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South Bend Redevelopment Commission <br /> Regular Meeting–August 28, 2014 <br /> ® 6. NEW BUSINESS (CONT.) <br /> B. Northeast Neighborhood Development Area <br /> (1) continued... <br /> The proposed schedule to implement the boundary change process is: <br /> 8/25/14–Redevelopment Commission Declaratory Resolutions passed <br /> 9/16/14–Area Plan Commission to review for alignment with the City's development <br /> plan and adopt an approving order <br /> 9/22/14–Common Council Declaratory Resolution for approval <br /> 9/23/14–Upon approval by Area Plan Commission and Common Council,notices will <br /> be mailed and published for a public hearing at the Commission's October 16th meeting <br /> 10/16/14–Redevelopment Commission Confirming Resolution presented for <br /> consideration <br /> • Staff requests approval of Resolution No. 3227, 3228, and 3229,to begin the process of <br /> amending the plans for the AEDA,NNDA, and SSDA, and to authorize the publication of a <br /> notice of public hearing. <br /> Mr. Wruble asked what the plan was for the Scottsdale Pool. Mr. Ford answered there are no <br /> plans,but we consider it an opportunity and this is the first step in enabling us to do something. <br /> Dr. Varner noted that it is a problem which has been ignored for about 25 years and the City will <br /> ultimately have to address it so he asked Mr. Ford to include it in the boundary change. <br /> Dr. Varner noted he had read in the 8/28/14 newspaper that this boundary change would result in <br /> an increase in acreage and was somewhat surprised by that. He would like to see staff prepare <br /> information for the public on the expected revenues for the TIF districts, as modified, over the <br /> next 3-4 years. It would also be helpful to note how this affects the City's General Fund. <br /> Mr. Ford responded that we have received a draft of the financial information from Umbaugh <br /> and anticipate that information to be a key part of the on-going presentations on this matter. <br /> Initial indications are that these changes will help to alleviate the impact of the circuit breaker <br /> law on the City's finances because we are increasing a larger denominator—you have more <br /> assessed value—which reduces the pressure of the circuit breaker which enables the City levy to <br /> capture more of its anticipated levy. It will also have a direct cash benefit as it will increase the <br /> funds going to the other taxing units. <br /> 5 <br />