My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
06-23-08 Common Council Minutes
sbend
>
Public
>
Common Council
>
Minutes
>
Common Council Meeting Minutes
>
2008
>
06-23-08 Common Council Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/2/2008 4:51:18 PM
Creation date
9/2/2008 4:51:14 PM
Metadata
Fields
Template:
City Council - City Clerk
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
37
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
REGULAR MEETING JUNE 23, 2008 <br /> <br /> <br /> <br /> <br />been a great partner; they have been a partner in the planning of East Bank Village. <br />Holladay’s investment is not just in Portage Prairie, but really again across the City of <br />South Bend. Mayor Luecke stated that one of the questions that was raised by the <br />Council this afternoon was that of the longevity of the TIF district. The Airport <br />Economic Development Area was created before there were any time limitations were <br />placed on TIF districts. House Bill 1001 is a complex bill, and to be honest he has had <br />varying advice on what that means for those grandfathered older TIF districts. He stated <br />that he has had legal advice which has said that they believe those districts will now be <br />subject to a time limitation, as all new districts would be. Mayor Luecke stated that he <br />has had discussion with the Indiana Associations of Cities and Towns staff that they <br />believe that the grandfathering continues. He stated that he cannot give a specific answer <br />to that question tonight. But understanding that the time limitation issue is a concern for <br />the Council, they would certainly commit themselves to working together to place a time <br />limitation on this expanded TIF area, if that is the Council’s desire as this moves forward. <br />He stated that he can’t tell what the vehicle will be to be able to do that right now, but he <br />hears and understands that concern being raised and looked to be able to address that. <br />But the time is right to expand into the Portage Prairie area now, a portion of the Portage <br />Prairie area is already included within the Airport Economic Development Area which <br />allowed the City to create Dillon Drive opening up 100 acres for new investment and new <br />jobs in this community. He believes by including the rest of the area, it will provide the <br />City the opportunity in conjunction with development; they will not be willy nilly in <br />making infrastructure investments without real development ready to happen. In <br />conjunction with development it will be then that the City will be able to make some of <br />the infrastructure necessary to help this area reach its full potential and generate <br />additional tax dollars that can be used throughout the entire airport development area <br />including LaSalle Square and the Studebaker area. He urged the Council’s full support of <br />this resolution. <br /> <br />Mr. Inks advised to the Council that if there is any suggestions to improve the language <br />in the resolution that would be most welcome, but suggested that in between items #2 and <br />#3 that a new #3 be inserted to read: First priorities for the AEDA TIF funding remain <br />LaSalle Square and Studebaker Corridor, including the nano-technology mind project. <br />And renumber #3 to #4. Mr. Inks also stated that for internal working purposes there is 2 <br />million dollars that is allocated this year and $500,000 allocated next year, and if the <br />Council wants to put 2.5 million dollars for LaSalle Square that could be done. <br /> <br />Mayor Luecke stated that they don’t have a specific commitment made to the Studebaker <br />Corridor at this point. They have had discussions with the NRI, the State and the <br />University of Notre Dame, and talked about levels and types of investment. He stated <br />that he doesn’t believe that they have a number that they would want to insert into the bill <br />at this particular point. In particular, he doesn’t want to be in the position of saying that <br />they have to spend every last dollar here, before we can spend something else there. The <br />planning process is something that is generally such that there will be needs in several <br />places during a period of time, and that they would allocate dollars, some to Studebaker, <br />and certainly the 2.5 million that they are committing to LaSalle Square. But potentially <br />if the need arises for some infrastructure in Portage Prairie at that time, that makes sense <br />because it is going to open up new development and bring new jobs and opportunities <br />there. He would prefer to not put any dollar amount for the Studebaker Corridor, but <br />know that it is a key priority for this administration and can appreciate the Council’s <br />support in this regard. <br /> <br />Councilmember Oliver Davis questioned why this development could not be in its own <br />TIF district. <br /> <br />Mayor Luecke stated that they could have established a separate TIF for Portage Prairie, <br />and chose not to when the area was first annexed into the City for a number of reasons. <br />First, a new TIF doesn’t have any income to be able to invest in infrastructure or to be <br />able to commit to bonding to pay for infrastructure. So to be part of an existing TIF that <br />has a revenue stream that allows a jump start that area, it is an easier investment and a <br />bond issue that is more likely to be sold in the bond market. So that is really the primary <br />reason that it is more a matter of planning and convenience and the ability to move <br /> 26 <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.