Laserfiche WebLink
truth Bend Redevelopment Commission <br />Special Meeting - March 11, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />art museum, they are looking forward to <br />having that collection on permanent <br />display. The new galleries at Century <br />Center will enable them to do that. <br />Ms. Auburn noted that this is not a <br />public hearing, but offered the public in <br />attendance an opportunity to speak. <br />Joyce Boaler had a number of questions <br />to ask the Mayor /Commission: 1) The <br />press release states that "the $4.5 million <br />and $2.5 million will be relieved as <br />corporate sponsorship revenue is <br />committed." What does that mean? It <br />seems that the $4.5 million from the <br />National Football Foundation and the <br />$2.5 million from citizens are no more <br />than a loan. The city will pay it back as <br />revenue comes in. If all they are doing <br />is loaning the $4.5 million, are we <br />giving them interest on that money? If <br />that is all they are doing, they are not <br />giving anything at all toward the <br />building. They are not investing <br />anything in it. 2) The newspaper <br />reported that two funds were going to be <br />used. Earlier the paper said that $1.3 <br />million in TIF funds; yesterday it said <br />that $1.5 million in TIF funds would be <br />used for the Hall. If it is now $1.5 <br />million, how much do we take in <br />annually in TIF funds. In the last three <br />to five years, what has been the annual <br />expenditure of TIF? On what kind of <br />infrastructure is this spent? From where <br />-7- <br />