07-14-09 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Rescheduled Regular Meeting –July 14, 2009 6. NEW BUSINESS (CONT.) H. Ratification of Temporary Use Agreements CTU Upon a motion by Mr. Downes, seconded by Ms. OMMISSION RATIFIED THE EMPORARY SE A GREEMENTS APPROVED BY STAFF SINCE King and unanimously carried, the Commission J 5,2009 UNE ratified the Temporary Use Agreements approved by staff since June 5, 2009. I. Other (1) Resolution No. 2591 determining that the tax increment which may be collected in the year 2010 is needed to satisfy obligations of the Commission and that no excess assessed value may be allocated to the respective taxing units and other related matters. Mr. Inks noted that this is the annual notice that we are required by law to provide to the various taxing units by July 15 as to whether there is any excess TIF that can be released by the Commission. Attached to Resolution No. 2591 as Exhibit “B” is the form of letter to be sent and a list of projects for each TIF area, and for each TIF area an estimate of the expected TIF revenue. CRN.2591 Upon a motion by Ms. King, seconded by OMMISSION APPROVED ESOLUTION O DETERMINING THAT THE TAX INCREMENT WHICH Mr. Downes and unanimously carried, the 2010 MAY BE COLLECTED IN THE YEAR IS Commission approved Resolution No. 2591 NEEDED TO SATISFY OBLIGATIONS OF THE determining that the tax increment which C OMMISSION AND THAT NO EXCESS ASSESSED may be collected in the year 2010 is needed VALUE MAY BE ALLOCATED TO THE RESPECTIVE to satisfy obligations of the Commission and TAXING UNITS AND OTHER RELATED MATTERS that no excess assessed value may be allocated to the respective taxing units and other related matters. 19