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South Bend Redevelopment Commission Regular Meeting – August 28, 2014 6. NEW BUSINESS (CONT.) B. Northeast Neighborhood Development Area (1) continued... Dr. Varner stated these effects need to be re- iterated to the public often so that it becomes clearly understood. He also noted he found the proposed timeline to be aggressive because this matter will likely generate more questions than anticipated, even with the best attempt at clarity. We want to ensure the public has a good understanding. Mr. Ford emphasized staff is committed to answering all questions. The timeline was established with an eye toward completing the process in conjunction with the passage of the 2015 City budget. We understand we have an opportunity to set the budget before October 31' or after January I". So, we can amend the budget(s) in early 2015, if necessary. Ms. Schey echoed Dr. Varner's comments about the timeline. Commissioners were given the maps on Monday, August 25', as is normal, for consideration at today's meeting. There is much research to be done. As Deputy Mayor Mark Neal noted in his opening comments about the 2015 budget, the circuit breaker has dropped South Bend's funding by 31 %. These losses have been increasing each year and will continue to grow resulting in cuts to City expenditures to adapt to these changes. She asked what percentage of the City's land would be captured by the TIF? Mr. Ford answered we are currently at 34% of land in TIF areas and under the new boundaries would be at 37 %. Most importantly, from the fiscal position, the change would be flat —as noted previously —from 30.64% to 30.85 %. This still includes the West Washington TIF. Mr. Ford further explained staff had considered carving out certain sections but found some options to transfer roughly $300,000 from local taxing units to the State. Weighing fiscal stewardship for our local community, we opted to avoid those trade- offs. The TIFs are an option to fund infrastructure by taking pressure off the General Fund. Ms. Schey questioned whether we are expanding the intended scope of TIF as she does not see Downtown as blighted. She also believes Downtown already has a number of funds dedicated to its area. She further pointed out an area in the expansion and asked whether it is in the Near Northwest Neighborhood and doesn't this area have benefit of CDBG dollars? Ms Schey was concerned that some areas of town do not have specialized funds available to them. Mr. Ford noted that area Ms. Schey identified is the right of way of the rail —the former coal line —which goes up to the Drewrey's parcel. It is in the Near Northwest part of town, but we are unsure if it is within the NNN's defined boundaries. This was identified in the Corridor Plan as an opportunity to build a trail 0