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South Bend Redevelopment Commission <br /> Regular Meeting—September 11, 2014 <br /> 6. NEW BUSINESS (CONT.) <br /> G. Other <br /> (1) Resolution No. 3232 Setting a Public Hearing on the Appropriation of Tax Increment <br /> Financing Revenues from Various Allocation Areas and Other Redevelopment Funds <br /> for the Payment of Certain Obligations and Expenses Related to their Respective <br /> Allocation Areas and Other Related Matters (Public Hearing Date: October 16,2014) <br /> Mr. Zeeb noted this is the beginning of the 2015 appropriation process. We will bring <br /> further detail to the October 16, 2014 meeting. <br /> Ms. Schey asked, in relation to the TIF merger/expansion now under consideration,what <br /> happens to the funds in a TIF fund when the fund expires, merges or is closed. Mr. Ford <br /> explained there are 2 possible scenarios. In the case of a TIF which closes or expires, the <br /> funds stay where they are and continue to be used for the original purpose until used up. In <br /> the case of a merger,the funds are then merged together. <br /> Upon motion by Dr. Varner, seconded by Ms. Schey, and unanimously carried,the <br /> Commission approved Resolution No. 3232 setting the public hearing date for appropriation <br /> of all Redevelopment funds for October 16, 2014. <br /> Mr. Ford informed the Commission the City has expanded the timeline for consideration of <br /> • the TIF expansion/merger to increase the time for public review and comment. <br /> H. Ratification of Temporary Use Agreements <br /> (1) Mr. Relos noted the Temporary Use Agreement is with Michiana Military Stand Down for <br /> Returning Veterans and Homeless Veterans. The event is to be held September 25, 2014. <br /> Upon motion by Mr. Inks, seconded by Ms. Schey, and unanimously carried,the <br /> Commission approved the Temporary Use Agreement with Michiana Military Stand Down <br /> for Returning Veterans and Homeless Veterans on September 25, 2014. <br /> 7. PROGRESS REPORTS <br /> A. Tax Abatement <br /> Ms. Kathy Hahn informed the Commission that Swing Batter Swing received their <br /> designating resolution on Monday, September 8, 2014 from the Common Council. It is a <br /> $1M project and they are requesting an 8 year real property tax abatement. Taxes to be <br /> abated are $103,256; taxed to be paid over the 8 years would be$143,508 and the project <br /> will create 1 job with a payroll of$30,000. Dr. Varner asked if there is an expectation that <br /> they will request an abatement for equipment. Mr. Ford replied no. <br /> • <br /> 8 <br />