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South Bend Redevelopment Commission <br />Regular Meeting –February 20, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />Mr. Downes asked about TIF revenues from <br />A.J. Wright real property. Mr. Inks <br />responded that the only portion of the AEDA <br />TIF area that is overlapped by the Urban <br />Enterprise Zone is the former Sample-Ewing <br />Development Area (SEDA). For several <br />years now the real property increment from <br />the former SEDA area has been negative. <br />The Commission has been acquiring a lot of <br />property and demolishing it, which <br />diminishes the increment. <br /> <br />Several Commissioners were concerned <br />about removing TIF revenue from the <br />broader AEDA and restricting its use to a <br />small area. They asked for a description of <br />the boundary of the overlapped area. Ms. <br />Leonard brought a map showing the <br />overlapped area, which was roughly the size <br />of the former SEDA, including Ignition Park <br />and LaSalle Square. Commissioners were <br />then satisfied that the overlapped area was <br />not too restrictive for use of the excess funds. <br /> <br />CRN.2563 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />TRANSFERRING TAX INCREMENT FINANCING <br />Ms. King and unanimously carried, the <br />AE <br />REVENUES FROM THE IRPORT CONOMIC <br />Commission approved Resolution No. 2563 <br />DAAF <br />EVELOPMENT LLOCATION REA UND TO <br />transferring tax increment financing revenues <br />AED/U <br />THE IRPORT CONOMIC EVELOPMENTRBAN <br />from the Airport Economic Development <br />EZSZF <br />NTERPRISE ONE PECIAL ONE UND <br />Allocation Area Fund to the Airport <br />Economic Development/Urban Enterprise <br />Zone Special Zone Fund. <br /> <br /> <br /> <br /> <br /> 6 <br /> <br />