10-13-14 Council Agenda & Packet

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yncira h�,, b� . . City of South Bend Common Council 7$_65 441 County-City Building • 227 W. Jefferson Blvd South Bend, Indiana 46601 -1830 Oliver J. Davis President Derek D. Dieter Vice - President Valerie Schey Chairperson, Committee of the Whole Tim Scott First District Henry Davis, Jr, Second District Valerie Schey 'Ihird District October 8, 2014 Dear Fellow Colleagues: (574) 235 -9321 Fax (574) 235 -9173 http://Www.southbendin.gov Please accept this resolution as an alternative to the current TIF realignment project. We have a fiduciary obligation and responsibility to our constituents. As Council members it compels us to thoroughly examine, ponder over and digest information prior to and approving and making any major changes to the City budget. The Common Council is being asked to blindly make an enormous change to our TIF map with very limited and scarce information. It is incumbent upon us a council members to utilize every resource at our disposal to make a well informed decision, and not make a potentially irrational decision in haste. We need to think long and hard and review the potential consequences of these proposed changes. Fred Ferlic Fourth Approximately 58 counties in Indiana have TIF districts. We began using TIF in the mid 1980s to address blighted District areas, undeveloped urban areas, and over time TIF had been used to start educational programs, David Varner Fifth District expanding or creating jobs through public and private partnerships or through Economic Development Areas. TIF was thought to be used for primarily infrastructure improvements within the given TIF areas however over time we have seen a change of direction throughout Oliver J. Davis Sixth the State for those revenues. The Administration is asking the Common District Council to assist in realigning the TIF areas to promote more economic growth. However, my "At Derek D. Dieter question is this, what expense ?" Have we reviewed existing TIF districts at all? Is anyone else surprised that both At Large a 15 year and 20 year bond was paid off in a few short years for the south side retail developments? Perhaps we should investigate Gavin Ferlic At Large further into this subject and see if we made TIF a governmental piggy bank? Perhaps we should see if the current taxes generated in each TIF are reasonable and the assessments are reasonable and not far Karen L. White over - reaching? At Large The attached proposal is asking the Administration and Common Council to 'slow down this action to get more information by forming a commission to do a study on the uses of TIF in South Bend. The study is to promote a vision for the revenue that has been generated by new investment and also ensure a healthier financial outlook over the next several years for South Bend and its residents. The commission will be an independent group of property owners and residents to outline the history of TIF investments and how it can used to benefit the city in the future. There must be a reason why the Indiana Legislature has voted to change or terminate the use of TIF in the future?