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<br />they have a 25 to 30% vacancy rate in the Indianapolis downtown <br /> <br />area. <br /> <br />~ <br /> <br />The Board then proceeded to a discussion among the Plan <br />Commission members with Signe Nicholson reading the duties of the <br />Plan Commission under Indiana Code 36-7-14-16 as it pertains to <br />consideration of the Redevelopment Commission Resolution and Plan. <br />William Abbott initiated the conversation among the Plan <br />Commission members. Mr. Abbott thanked Mr. Moldthan for corning <br />from Indianapolis to tell us what to do in Mooresville and went on <br />to state that the true issue for the Commission was the <br />determination of whether the proposed resolution and redevelopment <br />plan conformed to the plan of development of the Town of <br />Mooresville. Steve Edwards then spoke and stated that the <br />Commission's determination was only one of many steps in the <br />'~ progression in determining how the TIF district would be applied <br />to Mooresville. As a Town Council member he stated that he <br />believed the monies were needed to repair sewer lines and the Town <br /> <br />needed to increase revenues to accomplish some of these goals one <br /> <br /> <br />way or another. He stated that the restaurant tax provided a good <br /> <br /> <br />tool and would help make the bond rating and interest rate more <br /> <br /> <br />favorable. He further stated that this would help the future bond <br /> <br /> <br />ratings for the Town of Mooresville. Mr. Edwards stated that he <br /> <br /> <br />has yet to hear anything derogatory about the plan outside of the <br /> <br /> <br />use of the term "blighted". He stated that this term was needed <br /> <br /> <br />to meet the requirements of the law and that this should not be <br /> <br /> <br />offensive if it was going to result in repair to streets and <br /> <br /> <br />sidewalks and other infrastruture. <br /> <br />'-- <br /> <br />-5- <br />