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South Bend Redevelopment Commission <br />Regular Meeting— December 19, 2008 <br />6. NEW BUSINESS (CONT.) <br />H. Other <br />(4) continued... <br />to the Auditor, we are making that notice for <br />the upcoming year. Therefore, that notice <br />was made for 2009 in mid -2008. These <br />allocation numbers for 2009 will have been <br />referenced in July 2008. <br />Mr. Varner asked staff to provide a 5 -year <br />pro -forma of the revenue expected from each <br />TIF area at the January 16 meeting. Mr. hiks <br />indicated that as staff prepares its 2009 <br />budgets, it does not even know what 2008 <br />revenues were. He is also not fully <br />comfortable that he understands the full <br />impact of the circuit breaker legislation. <br />Once we see what the tax collections are for <br />2009, we will be better able to project for <br />2010. He will provide the best numbers lie <br />can from the projections Umbaugh has <br />calculated at the next meeting. <br />Upon a motion by Mr. Varner, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2532 <br />setting a public hearing for 10:00 a.m., <br />January 16, 2009, on the appropriation of tax <br />increment financing revenues from various <br />allocation areas for the payment of certain <br />obligations and expenses related to their <br />respective allocation areas and other related <br />matters. <br />7. PROGRESS REPORTS <br />There was no report. <br />30 <br />COMMISSION APPROVED RESOLUTION No. 2532 <br />2532 M I I IAG .-A PUBLIC HEARING FOR 10:09 <br />A.M...I.AvLARY 16, 2009. ON THE <br />APPROPRIATION OF TAX INC'RFMFNT FINANCING <br />RE\ FNL FS FROM VARIOUS ALLOCATION AREAS <br />FORTH[ PA) MFNT OP CERTAIN OBLIGATIONS <br />AND EXPENSES RELATED TO THEIR RESPECTIVE <br />ALLOCATION AREAS AND OTHER RELATED <br />MATTERS <br />PROGRESS REPORTS <br />