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CITY OF SOUTH BEND OFFICE OF THE CLERK
<br /> necessary, like for instance the West Washington/Chapin development area is more of an historic
<br /> district, we added some language that speaks to its historic nature. So, we tried to add in specific
<br /> goals and objectives, depending on if that district seemed to be different or that has something
<br /> different and not really related to any of the other areas.
<br /> He continued, So,overtime,the downtown area has been amalgamated, shifted, and there are a lot
<br /> of different goals. It actually occupies two (2) drawers of a filing cabinet upstairs, so, I challenge
<br /> anybody to find any information in that. So, what we want to do is amalgamate a lot of those
<br /> things. It is practically unusable by anybody other than some of our staff here. It is not very
<br /> accessible to the public. So,we want to change that, and we want to amend or replace a lot of these
<br /> existing documents and want to align the development plans' goals and objectives to be consistent
<br /> with our Comprehensive Plan.We want to ensure the develop plans are accessible and are relevant
<br /> to staff and the public. We also want to ensure they comply with current State Law. This
<br /> (referencing a slide in the presentation) is the required content. We have to talk a little bit about
<br /> the history of the development area. The location which is a map and a legal description. The
<br /> activities, so, what TIF can be used for. Again,this is permitted by State Law so we're not adding
<br /> to this, we are just using State Law as our guideline. The goals and objectives of the District,
<br /> statutory findings,acquisition of real property and procedure of amendment. So,what we are doing
<br /> right now, effectively, is our procedure and if we ever want to amend it again, again, it is all part
<br /> of State Law and a lot of this is very much about following the directives as outlined in State Law.
<br /> He went on, The financial impact analysis. So, we have Baker Tilly, formally Umbaugh, in the
<br /> room and he has prepared an analysis and impact statement to the overlapping taxing units. This
<br /> is something that is necessary when you want to change a TIF District. So, we need to understand
<br /> what those financial impacts might be. Overall, the adjustments will have no net effect to the
<br /> overall TIF revenue. Approximately$157,000 of River West will shift into the South East in that
<br /> transfer of land. Approximately six hundred and twenty-five dollars($625)from West Washington
<br /> will move into the River West District. The acquisition list. So,this is a list of properties that might
<br /> be a property that the City may want to acquire. I keep saying might and may because it is very
<br /> vague and there is a reason for that. For instance, all of downtown, almost all of downtown, is in
<br /> the acquisition list. That doesn't mean the City wants to buy all or any part of downtown,
<br /> necessarily. But, it certainly can be helpful when, for instance the Fat Daddy's site had been
<br /> demolished, if Vickie's Bar had been on the acquisition list, we may have purchased it in order to
<br /> create a larger list, if she wanted to sell it. So, there are reasons why being on the acquisition list
<br /> is actually beneficial to a property, even though it seems like the City is coming after them. So, I
<br /> wanted to make it clear that this isn't about us trying to go and acquire property. There are nine
<br /> hundred and twenty-five (925)properties that will be added to the acquisition list. During the last
<br /> adjustment, I believe all of the areas were added to the acquisition list. I'm not sure if that is true
<br /> but I know that was talked about in the past. We were thinking about having this policy where if
<br /> any property is added to the TIF District,we would automatically add it to the acquisition list.That
<br /> way the process is the same and it gets it all done in one (1) fell swoop and then it is there just in
<br /> case.
<br /> He continued, One (1) of the reasons the acquisition list actually exists is because, as you know,
<br /> TIF funds are spent through the Redevelopment Commission, and the Redevelopment
<br /> Commission does not have condemnation powers like the City does. So, if the plan the
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