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South Bend Redevelopment Commission <br />Regular Meeting - December 1, 1995 <br />6. NEW BUSINESS (Cont.) <br />1. continued... <br />City of expenses incurred within the <br />South Bend Central Development <br />Area. <br />Mrs. Kolata explained that pursuant to <br />the Agreement, the Commission agrees <br />to reimburse the City from tax <br />increment funds generated within the <br />South Bend Central Development Area <br />Allocation Area for expenditures made <br />by the City in connection with the <br />improvements. The reimbursement <br />will be made over a period of time, not <br />to exceed three years, subject to annual <br />appropriation of tax increment dollars <br />by the Commission. The resolution <br />represents that, although the <br />Commission can make no covenants, it <br />is the Commission's intent to make <br />such reimbursements. <br />Mr. Faccenda noted that he has no <br />legal conflict of interest on this item <br />under Indiana law. However it is <br />obvious that he has spent significant <br />time on the Hall of Fame project. He <br />will abstain from voting on this item. <br />Upon a motion by Mr. Donoho, <br />seconded by Ms. Auburn and <br />unanimously carried, the Commission <br />approved the Agreement between the <br />City of South Bend, Department of <br />Redevelopment and the City of South <br />Bend, Indiana concerning the <br />reimbursement to the City of expenses <br />-14- <br />COMMISSION APPROVED THE AGREEMENT <br />BETWEEN THE CITY OF SOUTH BEND, <br />DEPARTMENT OF REDEVELOPMENT AND THE <br />CITY OF SOUTH BEND, INDIANA CONCERNING <br />THE REIMBURSEMENT TO THE CITY OF <br />EXPENSES INCURRED WITHIN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA. <br />