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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 />have more than sufficient revenues to meet <br />all of its obligations and debt service, <br />contractual or otherwise. <br />The only way, after July 1, that the AEDA <br />will be allowed to expand, is with the <br />approval of the Indiana Economic <br />Development Commission. They have not <br />established guidelines. We don't know what <br />their guidelines will be, and we don't know <br />that it would be possible to even consider an <br />expansion for this project at a later date. <br />Other communities have expanded before the <br />July 1 deadline as well: Mishawaka, and <br />Plymouth. The law allowed time between <br />passage and the effective date, providing an <br />opportunity for these types of expansion, so <br />we feel it is prudent to do the expansion now. <br />Mr. Inks noted that the expansion does not <br />guarantee any funding for Portage Prairie. It <br />does make available the local decision to <br />provide funding in the future, should that be <br />warranted. Those decisions would go <br />through the Redevelopment Commission. <br />Mr. King asked, practically, how LaSalle <br />Square and the nanotechnology park would <br />be given priority. If Portage Prairie requests <br />funding for infrastructure, how will we be <br />sure Portage Prairie doesn't use funds that <br />should be saved for those other projects? Mr. <br />Inks responded that staff would do a <br />projection of the revenue stream over the <br />next ten-year period. That's the period in <br />