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South Bend Redevelopment Commission <br /> Regular Meeting—August 23, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Airport Economic Development Area <br /> (1) Resolution No. 2935 setting a Public <br /> Hearing on the appropriation of tax <br /> increment financing revenues from the <br /> Airport Economic Development Allocation <br /> Area for the payment of certain <br /> obligations and expenses related to their <br /> respective allocation areas and other <br /> related matters. <br /> Mr. Inks noted that Resolution No. 2935 sets <br /> a Public Hearing for 4:00 p.m., <br /> September 13, 2011, on the appropriation of <br /> tax increment financing revenues from the <br /> Airport Economic Development Allocation <br /> Area. <br /> The Controller asked the Redevelopment <br /> Commission early in the year not to <br /> appropriate everything until it was actually <br /> needed. We are at a point were we have <br /> gone through all of the money that has been <br /> appropriated. The current appropriation for <br /> the Airport area is being used for projects <br /> that are either under contract or in the <br /> process of being bid. To continue with other <br /> projects, we need additional funds to operate. <br /> Mr. Varner asked if staff will delineate the <br /> projects at the time of the public hearing. <br /> Mr. Inks responded that he has a draft of a <br /> schedule similar to the one provided for the <br /> last appropriation showing the original, <br /> second, and third appropriations and the <br /> projects related to each. Mr. Varner asked <br /> how much has been appropriated so far this <br /> year. Mr. Inks responded over $20,000,000. <br /> 10 <br />