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CITY OF SOUTH BEND I OFFICE OF THE CLERK <br /> Committeemember Davis followed up, When we release something like that, how soon does it <br /> take to revert back into our General Fund? <br /> Ms. Leonard-Inks replied, This means that what we are releasing are the taxes generated this y <br /> but will be paid next year. So it will be in next year. And, as you may know, we released these <br /> same funds last ,year. So the money is coming in this Year. <br /> Committee Chair Ferlic then opened the floor to members of the public wishing to speak in favor <br /> or in opposition to the legislation.There were none.He then turned the floor back to the Committee <br /> for further comment or main motion. <br /> Committeemember Davis made a motion to send Bill No. 18-25 to the full Council with a favorable <br /> recommendation. Committeemember Sharon L. McBride seconded the motion which carried by a <br /> voice vote of five (5) ayes. <br /> With no further business, Committee Chair Ferlic adjourned the Community Investment <br /> Committee meeting at 4:25 p.m. <br /> Respectfully Submitted, <br /> Gavin Ferlic, Committee Chair <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 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 <br /> 2 <br />