Mr. Barenie called the meeting to order at 7:01 P.M. and led the Pledge of Allegiance. Roll call was taken with the following members present: Mark Barenie, President; Michael Forbes, Vice-President; Gregory Volk, Member; Michael Fryzel, Member; David Austgen, Attorney, Steve Kil, Town Manager and Sherry Sury, Clerk-Treasurer. Absent was Jerri Teibel, Member.
Approval of Minutes: June 26, 2008 Redevelopment Commission Regular Meeting –
Mr. Fryzel motioned to approve the minutes of the June 26, 2008 meeting. Seconded by Mr. Forbes. Motioned passed with a vote of 4 - 0.
Election of Officers – (President, Vice-President & Secretary)
Mr. Forbes motioned to assign the Town Council as those officers. Seconded by Mr. Volk. Motion passed with a vote of 4 - 0.
Resolution # RDC 09-07-23, A Resolution of the Town of St. John, Indiana Redevelopment Commission regarding use of assessed value within the expanded St. John North/South Economic Development Area, and all matters related thereto –
Mr. Kil stated that this is a confirmatory resolution that makes the position known to the Town Council that they are going to capture all of the increment within the redevelopment district there, and 100% of that increment will be used to pay off their debt, which they all know will be paid off at an accelerated rate they are capturing more tax increment than they originally anticipated. It’s going very well. The benefit of doing that is they can then issue more debt to do a project in the redevelopment area or they can let the assessed value go to the normal taxing districts it would be distributed to, the Town being one of them. The date of repayment is 2013. Mr. Forbes motioned to adopt Resolution # RDC 09-07-23. Seconded by Mr. Fryzel. Motion passed with a vote of 4 - 0.
Adjournment –
Mr. Fryzel motioned to adjourn the meeting. Seconded by Mr. Forbes. Motion passed with a vote of 4 - 0. Meeting adjourned at 7:07 P.M.
ATTEST:
/s/ Sherry P. Sury
Clerk-Treasurer
