Redevelopment, job creation among goals of reorganizing tax-incr - Fox 28: South Bend, Elkhart IN News, Weather, Sports

Redevelopment, job creation among goals of reorganizing tax-increment-districts

South Bend government officials will consider reorganizing some of its tax districts, a press release by the Mayor's office said.

The Mayor's office said in a press release Thursday that with the suggestion of the Department Community Investment, the South Bend Redevelopment Commission will consider reorganizing the tax-increment-financing districts. These districts are special taxing areas that generate revenue by growth in funds such as infrastructure, the Mayor's office said.

The Executive Director of Community Investment Scott Ford said the re-evaluation focuses on promoting fiscal stewardship and economic development. Among the changes the commission said they will discuss includes retiring a some districts that have already met their redevelopment goals and expanding the boundaries to support redevelopment elsewhere.

The commission will focus on districts that focus resources on strategic priorities such as redeveloping the Lincoln Way West and Western Ave. corridors, Jefferson Boulevard/Eddy Street South corridor, the Mayor's office said. Other priorities the commission proposed included creating jobs and new development at Ignition Park and several industrial zones throughout the city.

The plan is pending approval from the Area Plan Commission. If the plan is approved, the plan would be discussed at the Common Council during the Sept. 22 meeting before a public hearing in October, according to the press release. The Mayor's office said if the plan goes through as proposed, South Bend would have three TIF districts by 2018.

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