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(,-,- C C-4) <br />• r a n d U M SpUTH @ <br />Community & Economic Development <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 ♦ Phone 574/235 -9371 ♦ Fax 574/235 -9021 <br />To: Redevelopment Commissioners <br />From: Don Inks, Director <br />Subject: A.J. Wright Payment <br />Date: March 9, 2012 <br />We received the first of nine annual payments from A. J. Wright. The amount is $354,660 and we <br />will receive the same amount in each of the next eight years. The State Board of Accounts suggested <br />the Redevelopment Commission be asked the question of where these funds should be receipted to. <br />Putting the monies in the General Fund, EDIT or COIT all provide the same and greatest flexibility <br />for their use. Putting the monies in the Airport TIF makes sense since that was the source of funding <br />for the A. J. Wright project, and the TIF is still paying the bonds related to that project. TIF, <br />however, is more limited in how it can be used. I would recommend EDIT since it has good <br />flexibility and connotes an intended use for economic development purposes. <br />031312 6C2.doc What We Do Today Makes A Difference t <br />