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South Bend Redevelopment Commission <br />Regular Meeting November 10, 2014 <br />5. OLD BUSINESS <br />There was no Old Business. <br />6. NEW BUSINESS <br />A. Public Hearings <br />Mr. Relos noted that, contrary to the resolution titles listed on the Agenda, the Public Hearings <br />concern the declaratory resolutions, not the confirming resolutions. Therefore, the declaratory <br />resolutions have been listed here for public hearing, and approval of the confirming resolutions <br />follow the hearings. <br />(1) Public Hearing on Resolution No. 3227 designating and declaring a certain area as a <br />Redevelopment Area for the purpose of amending the boundaries of the South Side <br />Development Area and its Allocation Area and to amend the Development Plan for the <br />South Side Development Area. <br />Mr. Scott Ford, Executive Director, Community Investment made a presentation explaining <br />the consolidation and realignment of the various Tax Increment Financing areas. Mr. Ford <br />noted that at least twelve public meetings were held over the last few months regarding the <br />proposed changes to the South Bend Central, Northeast Neighborhood, Airport Economic <br />and South Side Development Areas. His presentation addressed why we want to make these <br />changes to the TIF areas, what that means, and what opportunities will be created as a result <br />of the changes. <br />The City of South Bend is proposing to redraw its Tax Increment Financing (TIF) districts to <br />allow additional public resources to be spent in our neighborhoods. A survey of the <br />Common Council members a couple of years ago, placed a high degree of importance on <br />economic development, but also on curbs and sidewalks, vacant and abandoned housing, <br />and the commercial corridors. On the basis of that survey, the staff of Community <br />Investment (DCI) determined to execute on those priorities. The mission of DCI, is to spur <br />investment in a stronger South Bend. We do that by attracting and retaining growing <br />businesses, connecting residents to economic opportunities and planning for vibrant <br />neighborhoods. <br />Mr. Ford noted that 2014 has been a good year for economic development, the first item in <br />DCI's mission. Through redevelopment activities we've been able to sign twenty -one major <br />public - private partnerships resulting in $175M of new private investment. That investment <br />generates over $5M of new taxes each year. He showed a map of where those projects <br />located - - -all are in TIF areas because TIF funds were available to assist a project in TIF <br />areas. <br />Related to the second item in our mission, those economic projects resulted in the creation <br />of 1,300 new jobs, almost 400 of which will come online in 2014. The unemployment rate <br />in South Bend has declined 25% since 2012. One of the ways we've been able to connect <br />