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Community and Economic Development. “Today, we are outlining our strategy for 2010 <br />so the Redevelopment Commission can have a sense of our priorities for financial <br />investment and work in the coming months.” <br /> <br />Nearly 30 percent of those resources are already committed to outstanding bond <br />payments across the districts for projects already completed. <br /> <br />More than 60 percent of the TIF revenue is concentrated in one district – the Airport <br />Economic Development Area, which incorporates Ivy Tech Community College and <br />Ignition Park in the southeast to LaSalle Square, South Bend Regional Airport and <br />Portage Prairie in the northwest. More than $25.2 million available in the AEDA will be <br />allocated for debt service ($4.1 million), completing infrastructure projects already under <br />way ($5 million) and investing in new infrastructure ($14.4 million). <br /> <br />The Central Development Area, which includes downtown and much of the East Bank <br />Village, accounts for the second largest share of TIF revenue, about 13 percent. <br /> <br />In a TIF district, the increase in tax revenue generated by the value of development stays <br />within the boundaries of the district to fund new infrastructure, including curbs, <br />sidewalks, streets, landscaping and other public improvements. <br /> <br />Here are the allocations and potential projects identified for 2010: <br />? <br /> <br />Airport Economic Development Area: $25.2 million, including $4.1 million in <br />debt service – Potential projects include property acquisition, demolition and <br />zoning for Ignition Park; acquisition, relocation and demolition in support of Ivy <br />Tech Community College; design for U.S. 31/Adams Road interchange and Olive <br />Road extension to Lincolnway West. <br />? <br /> <br />Central Business District: $5.2 million, including $2.1 million in debt service <br />payments. Potential projects include East Bank Plan implementation, Coveleski <br />Stadium investment, assisting in new construction projects and adaptive reuse of <br />the Hall of Fame facility. <br />? <br /> <br />Central Medical District: $3.3 million – Parking garage façade improvements; <br />sidewalk, curbs and tree-lawn enhancement; widening of Bartlett Street. <br />? <br /> <br />Douglas Road: $234,000 – reimbursements for previous road-widening project. <br />? <br /> <br />Northeast Neighborhood: $60,000 – Continued planning/implementation. <br />? <br /> <br />Southside-Erksine Village: $3.1 million – Acceleration of debt service payments <br />on previous investments. <br />? <br /> <br />Southside-Erskine Commons: $2.5 million – Acceleration of debt service <br />payments on previous investments. <br />? <br /> <br />Southside-Ireland Road: $1.2 million – Improvements to Erskine Plaza retention <br />ponds. <br />? <br /> <br />West Washington: $582,000 – Match for private contributions toward renovation <br />of the Hansel Center. <br /> <br /> <br />- 30 - <br /> <br />