05-13-19 Community Investment - Laserfiche WebLink

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•CITY OF SOUTH BEND OFFICE OF THE CLERK West, and we are moving parts of the River West into the South East Plan. I'll get into some of the impacts of that, too. He went on,What this means is that currently approximately forty-three percent(43%)of the City is within a TIF District. This will reduce that number to forty-one percent (41%). The areas that are being added are about eight hundred eighty(880) acres and we are subtracting out about 1,468 acres. This (referencing a slide in the presentation) gives you a little bit of an insight into the transfer of the land. So,West Washington to River West,we are adding one point three(1.3)acres. River West to the South East is two hundred and twenty(220) acres. What this means is that there will be a shift of approximately $157,000 from River West into the South East District. I think there is about six hundred dollars($600) from West Washington into River West. That is not much of an impact there. The shifting of the areas as well as the additions or subtractions do not impact any of the debt service, which is mostly carried in the River West side of things. It has basically no net effect from a revenue standpoint because when you add property in, it baselines that property, so it is not actually generating any TIF at the moment. A project has to happen in order for TIF to be generated. He continued, This is a little bit of a simpler way of looking at it (referencing a slide in the presentation). The blue are the areas that are in a TIF District, the orange, again, are the additions. The areas outlined, those are the transfer areas. Generally speaking, the areas that are being adjusted into the TIF District fall within three (3) major categories. Areas that have been recently annexed, so, for instance the South Bend Chocolate site. Holladay Properties are doing a spec warehouse on it, so we got in right before that,so all that will be helpful for the River West District. This is the area west and down by the ethanol plant that we recently annexed not too long ago. Corridors, so if you remember in 2014 we added Western Avenue and Lincolnway West into a much larger adjustment to the TIF Districts. I think what we've seen is that was tied directly to a plan and maybe in this sense we are doing the TIF before a plan. But,we've seen the success we've been able to have on those corridors. The other areas we are looking at doing are Linden Avenue, Mishawaka Avenue, Miami Street and a little bit around Portage/Elwood. Those are some areas that are corridor-related that we would like to, hopefully in the future, start looking at ways that we can do some of the things we've been doing successfully in other corridors, in areas we haven't looked at in a while. There have been corridor plans for Mishawaka and Miami,but they date back a while. Parks and community assets. We have Potawatomi Zoo, Leeper Park, Muessel Grove Park, the City Cemetery, the History Museum, Pulaski Park, South Park and parts of what might be Coal Line Trail phase three (3). He went on, So, we've added that in there as well. Those kind of represent, if you will, the broad categories in which these adjusted areas fall in. This is maybe a clearer example of what those are (referencing a slide in the presentation). Annexed areas, corridors, parks and community assets. To zoom in a little bit,this maybe helps orient you a little bit. There are a few areas that are outside this,but it generally captures all the areas we are looking at. The development plans are relatively simple documents. There is a State Law that dictates what needs to be in a development plan but it's pretty loose and open to however we want to do it. We've chosen to be as simple and as clear as possible. What we've done is we went back to the Comprehensive Plan and utilized a lot of the goals and objectives from that Plan and rolled them into these development plans so that these documents talk to each other and there are no discrepancies between these documents.Then,where EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 227W.Jefferson Bvld South Bend,Indiana 46601 p 574.235.9221 f574.235.9173 TTD 574.235.5567 www.southbendin.gov 5