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South Bcnd Rcdc~~clopmcnt Commission <br />Rc~=ular Meetin~~ -December 5. ?00~ <br />6. NE~~' BUSILESS (COLT.) <br />F. Northeast Neighborhood De~~clopmcnt Area <br />(1) continued... <br />4. Business Incubator constructed Frith State <br />Grant Funds must remain an incubator fbr the <br />useful life of the buildin~~ (as detined by IRS <br />depreciation schcdulcs)_ and this requirement <br />is being passed un lu'~D. <br />~. City will submit claims to State based on <br />claim documentation pro~~idal by ~ D, and <br />~~~hen City rceci~es State funds the City «~ill <br />issue check to A~D. <br />Mr. Inks ni~tcd that statt~rcconuncnds <br />accepting the Certified Tcchnologv Park <br />A~~rccment and the Technolo~~y De~clo~~ment <br />Grant Lund Grant A~~rccmcnt. <br />Mr. Varner noted that not onl~~ does the <br />Grant Fund Grant A~reemeut allo~r the city <br />to capture propa~ty taxes. but also <br />incremental income talcs and sales taxes. <br />That lca~cs the city Frith the same dilemma <br />as in anv TIF arca~ There may be ^ ~~rart <br />near project and a lot of acti~it~~_ but no new <br />tar re~~cnue stream to pay for increased <br />scr~ices in the area. particularl~~ police and <br />ti re protection. ~1r. Varner sug~~ested that ire <br />hu~c to find a ~ray~ to proridc fur the cost of <br />pro~idin<~ the additional police and tiro <br />protection in these areas as the result of near <br />development. The ne~~°est and nicest areas <br />arc free of the expense of pru~iding these <br />scr~iccs. defcrrin~~ the costs to the remainder <br />of the cite. He bclic~ cs there needs to be <br />discussion among the Rede~clopment <br />Commission or at the state Ic~cl to allu~~ fur <br />payment for city ser~iccs in these ne~~l~ <br />developed areas. <br />9 <br />