11-25-2024 South Bend Common Council Meeting Minutes

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REGULAR MEETING November 25, 2024 has pledged financial support which would most likely come in the form of TIF if the READI application is approved. Jorden Giger inquired about the grant amount. Joe Molnar responded that the total project applied for under the Ready 2.0 program for the block was around three million dollars ($3,000,000). This amount includes the Monarch building to the north as well as the Devereaux Peters project. Councilmember Tomas Morgan motioned for the adoption of Bill No. 24-39, which was seconded by Councilmember Dr. Davis, and carried by a vote of nine(9) ayes. Council President Sharon McBride—Aye Council Vice President Sheila Niezgodski—Aye Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye Councilmember Rachel Tomas Morgan—Aye Councilmember Bolden-Simpson motioned for the adoption of Bill No. 24-40, which was seconded by Councilmember Gooden Rodgers, and carried by a vote of nine(9) ayes. Council President Sharon McBride—Aye Council Vice President Sheila Niezgodski—Aye Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye Councilmember Rachel Tomas Morgan—Aye 24-41 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROVING AN ORDER OF THE SOUTH BEND PLAN COMMISSION APPROVING CERTAIN DECLARATORY RESOLUTIONS AND AMENDED AND RESTATED DEVELOPMENT PLANS FOR THE RIVER EAST DEVELOPMENT AREA, THE RIVER WEST DEVELOPMENT AREA,AND THE SOUTHSIDE DEVELOPMENT AREA ADOPTED BY THE SOUTH BEND REDEVELOPMENT COMMISSION Clerk Tirado read the resolution to the Council. Council President McBride asked for a committee report. Councilmember Warner stated that Bill No. 24-41 was heard in the Community Investment Committee and comes to the Full Council with a favorable recommendation. Chris Dressel, Senior Planner, with offices on the 14t" floor of the County-City building, stated that Tax Increment Financing (TIF) is a financial tool used to fund economic development, infrastructure improvements, and community projects. TIF allows the City to capture future increased tax revenue generated by developments within a designated TIF district.These funds are then reinvested into eligible projects to further stimulate growth. TIF districts are periodically adjusted to fund new priorities, capture value from ongoing developments, and extend retail and community opportunities. Being within a TIF district or on the Acquisition List does not mean property taxes or tax rates will increase, nor does it indicate the City intends to purchase the property. The zoning and permitted use of the property will also remain unchanged. Inclusion on the Acquisition List simply gives the City greater flexibility in negotiating with property owners if necessary. Public information meetings will be held on December 10 and 11, 2024 at various locations in South Bend. These sessions will cover the TIF adjustment process, proposed expansion areas, and their impact on the community. Residents can attend at the NNN Community Center, German Township Library, River Park Library, and Innovation Park at Notre Dame. For more information, contact 574.235.5847 or email planning@southbendin.gov. Councilmember White asked for a copy of the presentation. 12