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South Bend Rede~clopment Commission <br />Rc~~ular Meeting-Decemhcr ~. ?OOR <br />6. NL.~~~ 61;SINESS (CONT.) <br />F. Northeast V'eighborhood De~~elopment Arcs <br />(1) continued... <br />Mawr Luccke noted that the SAM that is <br />referred to in this a~~recment is money that <br />r~~ould ha~c otherwise gone to the state. <br />hhev arc funds that ~~~ould not othcn~rise hat°e <br />been mailable to the citti. This is the states <br />participation in this partnership. Local <br />income taxes still ~o to the localities: thcv <br />arc nc~t part of the SSM. The Mawr said he <br />appreciated Dr. y'arner~s concern ~br a ~~a~ <br />to fund police and tiro scr~~ices. [3ut ~~~c must <br />continue to im~est in economic de~~elopment <br />in the community'. TIF areas do nu~.v ha~~e <br />sunset pro~~isions, so the property tax dollars <br />~~~ill eventually benetit the entire community. <br />Mayor Luecke noted the important action the <br />Rede~~clopment Commission will take toda~~. <br />mcmorialir.in_~~ the ~~'ork of nrmv 'cars and <br />many Sl«mtlCanY pfll'YnP.rS rl> r£lkC adV'an18gC: <br />of the intellectual property generated at our <br />local uni~~crsitics. We bclic~~e this pro~idcs <br />seed fr~r new im~cstment, not only at the 1?- <br />acrc ]nno~~ation Park site and at the 8 ~-acre <br />Sample Street site. but in other areas of the <br />eommunit~~ that ~~°ill create additional <br />in~~estment that ~~~ill raise property ~alucs and <br />brine nc~~ jobs to the community. It really <br />tics together important partners: The <br />b;ni~asity ofNotre Dame. Inno~~ation Park. <br />and the State of hldiana throu~~h its Indiana <br />Economic Deg elopment Commission. The <br />state is making a grant to this proposal as <br />troll as a~lo~~ ing the city to capture tax <br />dollars that otherwise trould hate ~~one to the <br />state. The cite makes commitments to tinish <br />clrn ance at the Sample Street site_ trhich has <br />