HomeMy WebLinkAbout04-25-12 Personnel & Finance CommitteePERSONNEL AND FINANCE COMMITTEE
APRIL 25, 2012 4:30 P.M.
Committee Members Present:
Karen White, Gavin Ferlic, Dr. David Varner
Other Council:
Tim Scott, Valerie Schey, Dr. Fred Ferlic, Oliver Davis
Citizen Member:
Tammy McNally
Others Present:
Sheri Miller- Story, Don Inks, Beth Leonard, John Murphy, Mike Schmuhl, Greg Downs, Randy
Rompala, Mark Neal, Kathy Cekanski - Farrand, Marti Wolfson, Rahman Johnson
Agenda: Finance Workshop – Educational Session on Tax Increment Financing
This workshop, the second in a series of budget workshops, was called to focus on (TIF) Tax
Increment Financing. While the first workshop focused on a general overview of South Bend's
budgetary process, this meeting was to describe the nature, and use of TIF as well as past and
current practices employed by the city when using TIF. These workshops have been initiated
primarily by Councilmember Karen White, Chairperson of the Council's Personnel & Finance
Committee. The purpose of the workshops as Karen describes purpose of the workshops as
Karen describes is to give Councilmember's, especially the four new members an opportunity to
understand the City's budget and the Council's role in helping to formulate and ultimately approve
the annual budget.
This workshop focusing on TIF was presented by City Controller Mark Neal, Economic
Development's Director of Finance Don Inks and Randy Rompola an attorney with the firm of
Faegre, Baker, and Daniels LLP contracted by the City for technical consulting.
After a brief welcoming statement by Chairperson White she turned to Mark Neal to outline the
presentation. His introductory remarks were followed by a lengthy presentation by Mr. Rompola
which covered the legislative history of TIF and a complete overview of how it has been used
both locally and around the state. Don Inks followed with a detailed picture of TIF districts in
South Bend. Questions and answer periods for the Council followed each presentation. Each
presenter use overheads and handouts (3) to illustrate the material.
City Controller Mark Neal promised a detailed financial report on each district to be provided in a
couple of weeks.
Chairperson White closed the meeting thanking the presenters and urging the Council to review
the written material and provide feedback before the next workshop which she announced would
be on June 27 th
There being no further business to come before the committee at this time, Chairperson White
adjourned the meeting at 6:30 p.m.
Respec c ully Submitted,
Z—
K ren L. White, Chairperson
Personnel & Finance Committee