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12-05-08 Redevelopment Commission Minutes
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12-05-08 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting -December 5, 2008 <br />6. NEW BUSINESS (CONT.) <br />F. Northeast Neighborhood Development Area <br />(1) continued... <br />4. Business Incubator constructed with State <br />Grant Funds must remain an incubator for the <br />useful life of the building (as defined by IRS <br />depreciation schedules), and this requirement <br />is being passed on to ND. <br />5. City will submit claims to State based on <br />claim documentation provided by ND, and <br />when City receives State funds the City will <br />issue check to ND. <br />Mr. Inks noted that staff recommends <br />accepting the Certified Technology Park <br />Agreement and the Technology Development <br />Grant Fund Grant Agreement. <br />Mr. Varner noted that not only does the <br />Grant Fund Grant Agreement allow the city <br />to capture property taxes, but also <br />incremental income taxes and sales taxes. <br />That leaves the city with the same dilemma <br />as in any TIF area. There may be a great <br />new project and a lot of activity, but no new <br />tax revenue stream to pay for increased <br />services in the area, particularly police and <br />fire protection. Mr. Varner suggested that we <br />have to find a way to provide for the cost of <br />providing the additional police and fire <br />protection in these areas as the result of new <br />development. The newest and nicest areas <br />are free of the expense of providing these <br />services, deferring the costs to the remainder <br />of the city. He believes there needs to be <br />discussion among the Redevelopment <br />Commission or at the state level to allow for <br />payment for city services in these newly <br />developed areas. <br />9 <br />
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