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South Bend Redevelopment Commission <br />Regular Meeting - May 21, 1993 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />10:00 a.m. on May 21, 1993, 0 written <br />remonstrances were received. <br />Ms. Auburn asked if there was any objection <br />to these items being entered into the record. <br />There were no objections and they were so <br />entered. <br />Mr. Hunt highlighted a couple of differences <br />in the Sample -Ewing Development Area <br />(SERA) from our other redevelopment areas. <br />One major difference is that we are proposing <br />to use tax increment financing as the initial <br />funding for the program, but are not <br />recommending a TIF bond. The TIF will be <br />spent as it is received. <br />Another major difference is that the SEDA <br />plan contains a strong neighborhood <br />revitalization component in the Rum Village <br />and Southeast areas, equal to the commercial <br />and industrial components. <br />Mr. Hunt noted that the Redevelopment <br />Commission plays a significant role in the first <br />five years of the plan, but in order for <br />redevelopment to be successful in the long <br />term, we need to bring in many more partners <br />than we normally do, including neighborhood <br />and business organizations, social and human <br />service agencies, and the Business Assistance <br />Division of the department, to carry forward <br />the non - redevelopment portions of the plan. <br />Therefore, the development plan establishes a <br />general framework to approach more detailed <br />planning of the various sub - areas. We are <br />-5- <br />