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South Bend Redevelopment Commission <br />Regular Meeting —June 28, 2011 <br />advanced approval of the proposal. <br />Ms. King asked if development received <br />approval of the tax credits. Mr. Gibney <br />responded that it did. A part of the point <br />system needed a certain level of city <br />participation. The developers must invest <br />10% of the total amount in construction by <br />the end of this year. Ms. King asked whether <br />we're sure this project will proceed. Mr. <br />Sikora answered that he is. <br />Upon a motion by Ms. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2912 <br />approving and authorizing the execution of <br />an Addendum to the Master Agency <br />Agreement (LaSalle Square). <br />D. West Washington - Chapin Development Area <br />(1) Resolution No. 2906 setting a Public <br />Hearing on the appropriation of Tax <br />Increment Financing Revenues from West <br />Washington Allocation Area for the <br />payment of certain obligations and <br />expenses related to their respective <br />allocation areas and other related matters. <br />Mr. Inks noted this was an additional <br />appropriation for the West Washington Area. <br />In the beginning of the year the Controller <br />asked the Commission to be more <br />conservative in its appropriations. We did <br />that. We're now at the point where we have <br />authorized more projects than we have funds <br />appropriated for. So the additional <br />appropriation is needed to cover the projects <br />that have been approved or are pending <br />approval before the Redevelopment <br />Commission. This sets the public hearing. <br />29 <br />COMMISSION APPROVED RESOLUTION NO. 2912 <br />APPROVING AND AUTHORIZING THE EXECUTION <br />OF AN ADDENDUM TO THE MASTER AGENCY <br />AGREEMENT (LASALLE SQUARE). <br />