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South Bend Redevelopment Comnssion <br />Regular Meeting -August 15, 2008 <br />but had some questions about whether it <br />should receive tax abatement. Many of these <br />concerns are outside the purview of the <br />Commission, but will be things the Council <br />needs to consider before approving these tax <br />abatements. <br />Ms. Jones asked for clarification about the <br />issue of revenues in the TIT district not being <br />negatively impacted by this tax abatement. <br />She noted that the responsibility of the <br />Redevelopment Commission in approving a <br />tax abatement is to recognize and ascertain <br />whether there are adequate funds within the <br />TIF district for any outstanding bonds. Mr. <br />Inks responded that the Commission has not <br />planned on the revenues coming off of this <br />project as a part of the Northeast <br />Neighborhood Development Area TIF. The <br />project is adjacent to a residential TIP area <br />that is the Triangle Development and Eddy <br />Street Commons, coming down to five-points <br />and Eddy. But this project is outside that <br />residential "f1F boundary. Therefore, the <br />project's tax abatement would have no <br />impact on that project area or the bonds <br />outstanding there. Construction of the <br />technology building was not planned to be <br />part of the revenue source for development in <br />the NNDA. <br />Ms. Jones noted that the Commission's <br />concern is simply whether the TlI district <br />can afford to allow the tax abatement. "fhe <br />Commission doesn't have the information to <br />address the other concerns Mr. Varner has. <br />The Common Council is responsible to <br />consider those other issues. Ms..iones said <br />she understands the concerns expressed in <br />Mr. Varner's letter. With his Common <br />Council member hat on, he will address those <br />concerns. <br />13 <br />