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South Bend Redevelopment Commission Regular Meeting – August 28, 2014 :AK1711111 i7. Q 111 There was no Old Business. However, Ms. Schey wanted to thank both Lawrence Meteiver, Commission Attorney and Cheryl Phipps, Commission Recording Secretary for their years of service to the City. Both of them are retiring as of August 29, 2014. They were honored with a round of applause from those in attendance. 6. NEW BUSINESS A. South Bend Central Development Area There was no business in the South Bend Central Development Area. B. Northeast Neighborhood Development Area (1) Resolution 3228 designating and declaring certain areas as redevelopment areas and adding certain territory from the South Bend Central Development Area for the purpose of amending the boundaries of the Northeast Neighborhood Development Area and the Northeast Neighborhood Development Area Allocation Area No. 1 and approving an amendment to the Development Plan for said area Mr. Relos asked that the presentations on item 6B(1), 6C(1) and 6 E(1) be made together as they are inter - related. The Commission approved the combined presentation. Mr. Ford explained the resolutions being considered initiate the process for re- aligning several of our TIF districts. This is an opportunity for fiscal stewardship, economic development and following through with the plan-driven redevelopment agenda. By amending these area's plans to realign their boundaries, the Commission will be able to strategically focus its resources on current priorities while also retiring those TIF districts that have successfully served their purpose. It is important to note, with these proposed changes, the percentage of current assessed value of the TIF areas will go from 30.6% to 30.8 % -- roughly a flat amount. By changing the boundaries we are able to capture the locations of several of the City's current priorities. Key aspects of the proposed realignment include: Airport Economic Development Area (AEDA) – Expansion to include targeted areas along Lincolnway West and Western Avenue that are the focus of the 2014 Main Streets Revitalization Plan —also referred to as "the Corridor Plan", as well as a portion of the SBCDA (Downtown TIF) and the Central Medical Development Area that are west of the St. Joseph River. Central Medical Development Area (CMDA) – Will retire one year early, at the end of 2014, which will release that increment and reset the base. That will have a positive