Redevelopment Commission Agenda & Packet 10.24.24 - Revised

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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – October 10, 2024 8 near Panera on Miami that were rezoned for an automotive business. Mr. Corcoran agreed. Mr. Corcoran also reviewed the commonly asked questions. Commissioner Eli Wax asked if the Commission is locked into the properties listed on the map or can it be approved subject to the allocation areas suggestions by Commissioner Relos. Mr. Corcoran stated that the city is in the process of developing the legal descriptions and that can be amended. Danielle Campbell Weiss, Assistant City Attorney, stated that there may possibly need to be a sub at the next meeting, and she will let the Commission know. Matt Barrett asked what the downside is of making the entire city a TIF district. Caleb Bauer explained that TIF districts can impact other taxing entities. The base rate that's set in the establishment or the expansion of a district continues to go to the different taxing entities, but increment captured above that will be controlled by the Redevelopment Commission. Mr. Bauer stated that there have been a number of studies that show the investments of redevelopment commissions, and the assessed value tied to those investments more than offset the negative impact to other taxing entities through the growth of assessed value. However, the primary reason why the city would not do this is that to expand the districts to cover every parcel in the city in a commercial district, we're only able to capture increments from non-residential properties, and it doesn't always make sense to the Commission to expand to cover an entire neighborhood with the chance of alarming residents. Upon a motion by Eli Wax for approval, subject to the additions to the allocation areas suggested at the meeting, seconded by Troy Warner, the motion carried unanimously; the Commission approved the Resolution as presented on October 10, 2024. C. River East Development Area 1. Resolution No. 3607 (Amending TIF District) Upon a motion by Eli Wax for approval. subject to the additions to the allocation areas suggested at the meeting, seconded by David Relos, the motion carried unanimously; the Commission approved the Resolution as presented on October 10, 2024. D. South Side Development Area 1. Resolution No. 3608 (Amending TIF District)