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iir 6 a CO <br /> •"pU Tg e" <br /> �o Ir , o': <br /> _� s r�, Department of <br /> !(,e).,°:���� ����4 Community <br /> Investment <br /> . . 1865 . <br /> Memorandum <br /> August 28, 2014 <br /> TO Redevelopment Commission <br /> FROM Scott Ford, David Relo !i• <br /> SUBJECT: Declaratory Resolution No 3227, 3228, and 3229 <br /> TIF Realignment <br /> These Declaratory Resolutions are to begin the process of amending the Development t <br /> Plans (Plans) for the Airport Economic Development Area (AEDA), Northeast <br /> Neighborhood Development Area (NNDA), and South Side Development Area (SSDA). <br /> The proposed amendments to the Plan are consistent with the inter-related t aims of agenda. <br /> Fiscal stewardship; Economic development; and, a Plan driven redeve p <br /> By amending these Area's Plans to realign their boundaries, <br /> the Commission will be <br /> able to strategically focus its resources on current priorities while also retiring those TIF <br /> districts that have successfully served their purpose. <br /> Key Aspects of the proposed realignment include: <br /> 1. AEDA <br /> • Expansion to include the targeted areas along Lincolnway West and <br /> Western Avenue that are the focus of the forthcoming 2014 d the CMDA <br /> Revitalization Plan, as well as that portion of the SBCDA and <br /> that are west of the St. Joseph River. <br /> • Contraction to exclude the property at the Villas at Blackthorn. <br /> ro 2. CMDA <br /> 1 • Will retire one year early, at the end of 2014, reestablishing a new base <br /> assessed value and then be included into the expanded AEDA. <br /> 3. DREDA <br /> • Will retire with the repayment of debt in 2018. <br /> i <br /> 1 <br /> i <br /> i <br /> 1 <br /> 1 <br /> 227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021 I SOUTHBENDIN.GOV <br /> 1 <br /> 1 <br />