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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -June 25, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />(1) continued... <br />make the Commission party to the same law <br />suit. Mr. Inks responded that staff is <br />confident it has followed the steps required <br />under state statute, both on the Commission <br />level and at the Council level, for this <br />expansion. Staff recommends the <br />Commission conduct the public hearing and <br />take appropriate action on Resolution <br />No. 2456. <br />Mr. Leone agreed. He said that the purported <br />flaws are purely speculative. The <br />Commission needs to go forward at this time. <br />If there are flaws, the city will deal with them <br />as they come up. <br />Mr. Inks called on Holladay Properties to <br />give a presentation on the Portage Prairie <br />development. He thought it important the <br />Commission understand the impact of the <br />development that is planned for that area. <br />Mr. John Phair, Holladay Properties, noted <br />that this is the fourth project of this <br />magnitude that Holladay has done in Indiana. <br />One is over ten years old. Each used TIF in <br />different ways. All are generating taxes far <br />in excess of the bond payments and those <br />funds are flowing back into the communities. <br />The taxes flowing off of this project will <br />undoubtedly support other projects like <br />LaSalle Square and MIND. <br />Mr. Frank Perri showed an aerial of the <br />Portage Prairie area, pointing out the location <br />of the Huron Building, which was built <br />12 <br />