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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 />Saturday because of the revenue caps <br />associated with HEA 1001. We are already <br />facing cutbacks in police and fire and other <br />needed services in South Bend. We are <br />probably facing a recession that is likely to <br />reduce jobs, income and tax revenue <br />available to states, cities and counties. I <br />think the point that Dave Varner brings up is <br />very important, is there some ability for the <br />Redevelopment Commission and the city to <br />be able to do something about this in the <br />future. I don't know the legal ramifications, <br />but I think once it's in the Airport TIF, it's <br />going to be a difficult to be able to recover <br />that money. <br />But not only will tax revenue from Portage <br />Prairie be unavailable to the taxing <br />jurisdictions, Portage Prairie will create <br />additional costs---for fire and police <br />protection, for schools and libraries, for parks <br />and other public services. These monies are <br />not going to come from the TIF, they are <br />going to have to be paid for by the city and <br />by the libraries and school system. That's <br />another cost that should be added in to the <br />cost, over and above the $30M the city's <br />going to have to pay. It will create other <br />costs to society as a whole, in terms of urban <br />sprawl, higher transportation costs at $4.00 <br />per gallon gasoline, and potential global <br />warming. These are costs to society, not <br />borne by any private party, but really need to <br />be considered by public bodies such as the <br />City Council and Redevelopment <br />Commission. <br />15 <br />