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South Bend Redevelopment Commission <br />Regular Meeting - June 19, 1998 <br />6. NEW BUSINESS (CONT.) <br />b. continued.... <br />The TIF proceeds will be used to make <br />lease payments on bonds that were issued <br />in the past for local public improvements <br />that are in or serving the Allocation Area. <br />The proceeds will also be used to pay <br />expenses incurred by the Commission for <br />local public improvements. The <br />$3,000,000 is an estimated amount that <br />will be reduced at the time of the public <br />hearing. The resolution also authorizes a <br />public hearing scheduled for July 2, 1998, <br />at 10:00 a.m. <br />Upon a motion by Ms. Schwartz, seconded <br />by Mr. Faccenda and unanimously carried, <br />the Commission adopted Resolution <br />No. 1611 determining to pay certain <br />expenses incurred for local public <br />improvements in or serving the South <br />Bend Central Allocation Area (South Bend <br />Allocation Area No. IA) from the South <br />Bend Central Allocation Area (South Bend <br />Allocation Area No. 1 A) Special Fund. <br />c. Commission approval requested for <br />Resolution No. 1612 determining to pay <br />certain expenses incurred for local <br />public improvements in or serving the <br />Airport Economic Development Area <br />Allocation Area No. 1 ( "Allocation Area <br />No. 1 ") from the Airport Economic <br />Development Area Allocation Area <br />No. 1 Special Fund (the "Allocation <br />Fund "). <br />HAWPDATATOMMSM061998.MIN -7- <br />COMMISSION ADOPTED RESOLUTION NO. 1611 <br />DETERMINING TO PAY CERTAIN EXPENSES <br />INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN <br />OR SERVING THE SOUTH BEND CENTRAL <br />ALLOCATION AREA (SOUTH BEND ALLOCATION <br />AREA NO. IA) FROM THE SOUTH BEND CENTRAL <br />ALLOCATION AREA (SOUTH BEND ALLOCATION <br />AREA NO. IA) SPECIAL FUND. <br />