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5 <br /> <br />7. Placemaking and the Built Environment: Promote an attractive public realm that <br />preserves and enhances the City’s history and built environment. <br />a. Support walkable urban development. <br />b. Encourage urban design that creates or enhances a sense of place, provides <br />vibrancy, incorporates arts and culture, and fosters safety. <br />c. Integrate parks and trails into the city using urban design principles. <br />d. Prioritize projects that preserve and rehabilitate existing buildings over ones of <br />new construction. <br />e. Support development that is context sensitive and conserves the historical, <br />architectural, and social fabric of the City. <br /> <br />8. Education & Training: Provide educational and training opportunities that support people <br />of all ages to participate successfully in the economy. <br />a. Ensure a strong match between job skills among the population and present and <br />future needs of employers. <br />b. Partner with organizations and institutions to enhance educational opportunities <br />for youth from early childhood, pre-K to Grade 12, post-secondary and higher <br />education. <br />c. Partner with organizations that offer internships, co-ops, apprenticeships, <br />continuing education, lifelong learning, and other job training programs. <br /> <br />9. All other projects and purposes permitted by law. <br /> <br /> <br />Tax Increment Financing (“TIF”) District <br />The South Bend Redevelopment Commission may implement the use of TIF within a <br />redevelopment area pursuant to state law (I.C. 36-7-14). <br /> <br />TIF districts target blighted areas in order to transform them into viable areas making the <br />community more appealing and attractive for economic development, which creates a better <br />quality of life for the districts’ residents. TIF districts are powerful and effective tools that may <br />provide financing for infrastructure improvements within redevelopment projects which may, in <br />turn, entice market dollars back into abandoned and dilapidated areas. The lifespan of a TIF <br />district varies based upon the time of its creation. <br /> <br />TIF creates revenues for improvements without raising taxes, offers incentives for businesses <br />and developers, and builds communities. TIF works by capturing additional property tax revenue <br />due to the revitalization of a designated area. The assessment rate of the year in which the TIF is <br />established is used as the base year, and tax revenues generated due to the increase in <br />assessment over the base year assessment of properties within the TIF district are set aside for <br />use in that TIF district. Thus, no new taxes or increases in tax rates occur, rather TIF funds are <br />generated when property values improve due to the overall improvement of the TIF district. <br />