HomeMy WebLinkAbout06-11-18 Community Investment U � d
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OFFICE OF THE CITY CLERK
KAREEMAH FOWLER, CITY CLERK
COMMUNITY INVESTMENT JUNE 11, 2018 4:22 P.M.
Committee Members Present: Gavin Ferlic, Regina Williams-Preston, Oliver Davis,
Sharon L. McBride, Thomas Villing (citizen member)
Committee Members Absent: None
Other Council Present: Tim Scott, Jo M. Broden, John Voorde, Jake Teshka, Karen
White
Other Council Absent: None
Others Present: Beth Leonard-Inks
Presenters: Kareemah Fowler, Bianca Tirado, Graham Sparks, Bob
Palmer, Casey Colvin
Agenda: Bill No. 18-25-Releasing Assessed Value from Douglas
Road TIF Area for 2018pay2019
Committee Chair Gavin Ferlic called to order the Community Investment Committee meeting at
4:22 p.m. He introduced members of the Committee and proceeded to give the floor to the
presenter.
Bill No. 18-25- Releasing Assessed Value from Douglas Road TIF Area for 2018pay2019
Beth Leonard-Inks, Department of Community Investment with offices on the 14`t` floor of the
County-City Building, stated, The resolution before you releases the assessed value for the
Douglas Road TIF. The Redevelopment Commission approved this action at their last May
meeting. As is required by law, we need to bring this in front of you. As you may recall, the
Douglas Road TIF is just about finished. We just have one (1) small project we are still working
on which is the right turn lane from State Road twenty-three(SR-23)to Douglas Road. We expect
that to be finished this year.
Committee Chair Ferlic then opened the floor to questions from Committee and Council Members.
Committeemember Oliver Davis asked, What is the total amount?
Ms. Leonard-Inks replied,I don't know exactly how much because it depends on collections. But,
in 2017 when we received the money in this TIF there was $379,000 and, of course, that will be
released to the other taxing jurisdictions. South Bend typically gets about forty percent (40%) of
that which would be about$150,000 and the rest would go to other jurisdictions.
INTEGRITY1 SERVICES ACCESSIBILITY
JENNIFER M.COFFMAN BIANCA L.TtUDO JosEPII R Mou4AR
CHIEF DEPUTY/DmwroR OF OPERAT[oNs DEP=/Dm amp OF POLICY ORDINANCE VIOLATION CLERK
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
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CITY OF SOUTH BEND I OFFICE OF THE CLERK
Committeemember Davis followed up, When we release something like that, how soon does it
take to revert back into our General Fund?
Ms. Leonard-Inks replied, This means that what we are releasing are the taxes generated this y
but will be paid next year. So it will be in next year. And, as you may know, we released these
same funds last ,year. So the money is coming in this Year.
Committee Chair Ferlic then opened the floor to members of the public wishing to speak in favor
or in opposition to the legislation.There were none.He then turned the floor back to the Committee
for further comment or main motion.
Committeemember Davis made a motion to send Bill No. 18-25 to the full Council with a favorable
recommendation. Committeemember Sharon L. McBride seconded the motion which carried by a
voice vote of five (5) ayes.
With no further business, Committee Chair Ferlic adjourned the Community Investment
Committee meeting at 4:25 p.m.
Respectfully Submitted,
Gavin Ferlic, Committee Chair
EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
455 County-City Building 227W Jefferson Bvld I South Bend,Indiana 466011 p 574.235.9221 If 574.235.9173 1 TM574.235.5567 www.southbendin.gov
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