04-25-2022 Common Council Meeting Minutes (Signed)

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REGULAR MEETING April 25, 2022 project, primarily residential apartments with retail on the ground floor along Charles St. and State Road 23. There is also another commercial development to the east of the recent Drive N' Shine development by Haji Tehrani. Part of it is a Quick Lube facility, the details of this development are still in the works. It has yet to go through plan review. This area has a lot of areas that were developed in the sixties (60's), seventies (70's) and eighties (80's). There has been a lot of interest in this area over the last couple years (i.e., Mango Caf6 site or the Irish Corridor as well as Mulligan's Project). People will start to see and perceive this area in a different way and see it as vulnerable areas that they may want to look at redevelopment. Tim Corcoran continues with we had conversations with people regarding the campus court project which initially was going to be tied into the Turtle Creek project but is not now. It does show that there is potential for people to purchase the site. There isn't an active development project that we know of for this site. I want to bring these ideas before Council. The commercial strip at the corner of Venice and South Bend Ave, the landowners have started to get interest in what they might be able to do with their property long term. This is about getting ahead of some of those projects. The Salvation Army, an older building, is coming to the end of its life span. The Ironwood circle commercial development has a lot of older buildings in it. Places like this, if you put a few properties together, you can start to see them becoming development sites. There is a large area of large lot single family housing. These are some of the properties that are over two acres. Put two or three of these together, you could potentially put together a multifamily apartment complex. This area could have a lot of potential for redevelopment. Together the orange and gray areas start to represent the lot of what could happen over time. The areas that we haven't covered still has interest along State Road 23. There is a lot of interest in this part of the city. Tim Corcoran continues that each TIF district is a development plan. You have received the existing River East TIF development plan. With this adjustment, we will be AMENDING the River East Development plan in a few important ways. In 2019 we did a comprehensive update to every TIF district in the city. We redid every development plan, we adjusted the TIF boundaries in most of the TIFS in South Bend. Today we're asking for a very minor adjustment to the River East. The TIF development plan is part of the update process. We will be updating the boundary, the legal description that defines that boundary and the property acquisition list that is associated with the existing development plan. We are in the process of doing a fiscal impact analysis that is being prepared by Baker Tilly. An issue for landowners that come up is why are their parcels or their properties is being added to the acquisition list. Does this mean the city wants to buy my property? The answer is no. We do not want to buy your property. Being on the acquisition list allows the city to negotiate with property owners in ways that make it easier for the both the city and the property to come to an agreement about the price of property. If there is a city project that may be required, something that might be like a streetscape project, a park project, a basically a public good type of project, and this allows the redevelopment Commission to negotiate in more of a market rate way. Otherwise, we are bound by the average of two appraisals for a property, that oftentimes comes in below what people think their properties valued at. It allows wiggle room in that negotiant space. Tim Corcoran continues we intend to do our two public meetings again to engage those fifty-three (53) property owners. We have two meetings set for May 17`h and May 19`h. We can answer questions about taxes, land acquisition and any other TIF related questions. We talk about what TIF is and how TIF is generated what is means for their property. We will do the public engagement in the weeks prior to the final vote at the Redevelopment Commission which would adopt the adjusted area and TIF development plans. To date, the Redevelopment Commission has recommended favorably for the declaratory resolution and the planned commission on the 18th. The public hearing notice will be published, these dates are subject to change. We are trying to head off the questions before the redevelopment commission meeting. We had the public information sessions even further ahead before. The time difference between the public information sessions and the redevelopment commission led to some confusion. We think this will allow people to be able to ask questions prior to the Redevelopment Commission and allow us to make sure that the meeting runs smoothly. We also have Emma from Baker Tilly who also may be able to answer some of your questions regarding the overlapping taxing districts and impacts. 11