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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -June 25, 2008 <br />6. NEW BUSINESS (CONT.) <br />(2) Commission approval requested for TIF <br />Notification Requirement under HEA <br />1001. <br />Mr. Inks explained that the packets included <br />lists of projects currently under consideration <br />for the six TIF areas. The lists include the <br />anticipated TIF revenue for 2009. The debt <br />service committed from each area is also <br />listed. This is part of the requirement under <br />HEA 1001 that the Commission look each <br />year at the available revenues, the projects <br />planned for each area and come to a <br />conclusion that there is or is not excess value <br />that can be released in each TIF area. <br />Mr. Inks noted that the list for the Airport <br />Economic Development Area has changed <br />since the Commissioners received their <br />packets. The revised list reorders the list so <br />that LaSalle Square and the nanotechnology <br />center are at the top of the list, reflecting the <br />Common Council's desire to see that order <br />rather than alphabetical order. The <br />remainder of the list is alphabetical, not by <br />priority. <br />Mr. Inks noted that these lists are in <br />anticipation of Agenda item 6.J.(3). <br />Upon a motion by Mr. Downes, seconded by <br />Dr. Varner and unanimously carried, the <br />Commission approved the TIF Notification <br />Requirement under HEA 1001. <br />(3) Commission approval requested for <br />Resolution No. 2465 determining that the <br />tax increment which may be collected in <br />the year 2009 is needed to satisfy <br />obligations of the Commission and that no <br />excess assessed value may be allocated to <br />COMMISSION APPROVED THE TIF NOTIFICATION <br />REQUIREMENT UNDER HEA 1001 <br />46 <br />