06-13-08 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Special Meeting -June 13, 2008 7. PROGRESS REPORTS (CONT.) presented, the Council took action to once again begin accepting applications for Residential Tax Abatements. They did not set any limit at either end of the housing value scale, but will continue processing as they did previously. Tax abatements for residential are still available city wide for any value of housing development. B. Common Council Mr. Inks noted that the Commission has a public hearing scheduled for June 25 related to expansion of the Airport Economic Development Area to add all of the Portage Prairie development to the AEDA. This is all precipitated by the recent change in state law. As of July 1 boundary expansions to TIF areas would have to be approved downstate by the Indiana Economic Development Commission. The IEDC has not established guidelines. We don't know if we may be precluded from incorporating Portage Prairie in the future. So, to keep this decision at the local level, we are taking steps to try and get this done before July 1. Since July 1 is a firm date, if it doesn't get done then, it won't happen except by going to the IEDC first. Because of that, there has been some question about whether the Common Council needs to approve boundary changes in economic development areas. To eliminate any challenge about the process used, we are proposing that this go to the Common Council for approval as well. It will be on the Council agenda June 23. Two days later will be the Commission's public hearing. The expansion doesn't guarantee or commit any resources to Portage Prairie from the TIF, but it does leave open the local government option to provide resources. Without that, it's outside the AEDA and there's a fair chance that we would not be able to use TIF to support development if we wanted to. 21