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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –July 14, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. South Bend Central Development Area <br /> <br />(2) continued… <br /> <br />acquisition list of the South Bend Central <br />Development Area Development Plan. <br />Following approval by the Commission the <br />Area Plan Commission and South Bend <br />Common Council will need to approve the <br />additions to the acquisition list, after which <br />the Commission will hold a public hearing <br />before considering a confirming resolution. <br /> <br />Ms. Jones noted that the TIF funds used to <br />acquire property are about 90%-95% from <br />business taxes. It’s a common misconception <br />that TIF funds are generated from residential <br />taxes. Also, TIF funds collected in a district <br />must be spent in that district and used only <br />for purposes designated by state law. If <br />anyone has questions about what state law <br />designates as eligible uses, Dick Nussbaum <br />can answer them. <br /> <br />CRN.2551 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />SBC <br />AMENDING THE OUTH END ENTRAL <br />Ms. King and unanimously carried, the <br />DADP <br />EVELOPMENT REA EVELOPMENT LAN AND <br />Commission approved Resolution No. 2551 <br />L <br />ADDING ONE OR MORE PARCELS TO THE IST OF <br />amending the South Bend Central <br />PA <br />ARCELS TO BE CQUIRED <br />Development Area Development Plan and <br />adding one or more parcels to the List of <br />Parcels to be Acquired. <br /> <br /> <br />(3) Resolution No. 2589 approving and <br />authorizing the execution of an Addendum <br />to the Master Agency Agreement <br />(Michigan Street Improvements – Phase <br />II) <br /> <br />Mr. Leone noted that Resolution No. 2589 <br />should be considered with a revised Exhibit <br /> 11 <br /> <br />