04-25-13 Redevelopment Commission Minutes

Home Browse Search

South Bend Redevelopment Commission Regular Meeting —April 25, 2013 4. COMMUNICATIONS (CONT.) A. continued... Mr. Varner asked if this statute applies to all properties owned by the City of South Bend, or just those that are acquired under these circumstances. Mr. Meteiver responded that it will apply to any property that Commission owns and is transferring it at no cost to the CDC. Mr. Inks noted that the Redevelopment Commission has used this structure in deals before, such as the renovation for the Hansel Center. The Commission took ownership of the property for a period of time to do our work. The City had ownership fora short time to use some Block Grant funds for it. Then ultimately it was transferred to the University of Notre Dame, for the completion of the project and their expenditure of funds. Even on the Rushton project as part of the initial structuring consideration, the Commission discussed doing something similar, where it it would be transferred to the Redevelopment Commission for the use of our funds, then to South Bend Heritage or Historic Landmarks. However, we did not follow that structure. The Commission used a different mechanism to put TIF funds into the project. Therefore, the statute does not apply. Ms. Schey asked whether Indiana Landmarks currently owns the property. Mr. Meteiver responded that they did own the property, but then transferred it to South Bend Heritage. Ms. Shey asked where the funding for this project is coming from. Mr. Meteiver responded that there were a number of private grants that were secured for the rehabilitation, plus the TIF money from the Commission. Mr. Relos noted that the funding primarily comes from the Federal Historic Tax Credits and State Historic Tax Credits. Ms. Schey asked whether South Bend Heritage's management of the project is what determines whether the law cited applies. Mr. Meteiver responded that in this particular statute, ownership is what controls. In order for this statute to have any application to a project, the city or Commission must own the property and must transfer it to the CDC at no cost. Ms. Schey asked if Mr. Shabazz could have an opportunity to speak. Mr. Meteiver responded that the Commission does not have a public comment period. There is no privilege of the floor. Mr. Varner asked that for the sake of clarification if there are grants or tax credits, those rules are applied; the person who is administrating the project, is it their responsibility to see that the money is being used properly. Mr. Meteiver responded that it is. The Commission has a disbursement agreement with South Bend Heritage Foundation. When they spend funds, we disburse funds to them based on the disbursement agreement. 5. OLD BUSINESS There was no Old Business.