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� (7 C 1> <br />�4AvTe <br />Department of <br />Community Investment <br />Memorandum <br />Tuesday, July 02, 2013 <br />TO: Redevelopment Commission <br />FROM: Beth Leonard Inks <br />SUBJECT: Resolution No. 3148 - Determination of No Excess Assessed Value <br />Attached is Resolution No. 3148 which determines there is no excess assessed value <br />in our TIF areas for tax year 2013 pay 2014. Also attached is information regarding the <br />projected need for improvements in the various areas. Staff recommends, and respectfully <br />requests, Commission approval. <br />Please note we are not requesting any increment for South Side #3. We are working <br />with the trustee to set aside sufficient funds to pay off outstanding bond in South Side #3 at <br />the earliest available time. We will not have to receive any additional funding to accomplish <br />this task. We intend to close South Side #3 as soon as such closure is allowed. Any funds <br />remaining in the South Side #3 (Fund 432) will be transferred to South Side #1 (Fund 430) <br />for projects in that area. <br />Please let me know if you have any questions. Thank you. <br />227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574- 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV <br />