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227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />ScoTT FORD, EXECUTIVE DIRECTOR <br />July 7, 2014 <br />Mr. Oliver Davis, President <br />South Bend Common Council <br />4th Floor County -City Building <br />South Bend, IN 46601 <br />RE: Confirming Redevelopment Commission Determination that <br />Erskine Village TIF can be Released for 2015 <br />Dear President Davis: <br />PHONE: 574/235 -9371 <br />FAx: 574/235 -9021 <br />Attached for the Common Council's consideration is a proposed resolution which <br />confirms a determination by the South Bend Redevelopment Commission to release the <br />TIF Revenues for the Erskine Village TIF (South Side Development Area Allocation Area <br />#3) for 2015. <br />This year, the Indiana Legislature amended the statute controlling the release of <br />TIF. The law now requires the approval of the Common Council when a determination is <br />made to release TIF for a particular year. <br />On June 26, 2014, the Commission determined that the TIF revenues for 2015 for <br />Erskine Village will not be needed to satisfy the obligations of the District and, therefore, <br />can be released to the various taxing units. <br />The state law now requires that the Common Council confirm the determination <br />made by the Redevelopment Commission. <br />Either Beth Leonard or myself will present this Resolution to the Common Council. <br />Thank you for your consideration. <br />Si 1� 21 <br />Brock Zeeb <br />Director of Economic Resources <br />Department of Community Investment. <br />PLANNING NEIGHBORHOOD ENGAGEMENT <br />JITIN KAIN PAMELA C. MEYER <br />Filed lrl " I+ffice <br />" 8 'L014 i <br />JOHN V 'UR <br />CITY CLERK, SOUTH BEND, IN <br />BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br />CHRIS FIELDING BROCK ZEEB <br />1A <br />