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was a subdivision of residential homes that had been put into the database in error. This subdivision should not have been included. This error was found with the reassessment of 2003 and it was too late to take the homes out, so this will be corrected in 2004. Troy Bryant asked Jason about the base assessed value of $42 million saying this year was approximately $47 million, why is there a difference. Jason answered that during reassessment the base is constantly being readjusted. Since reassessment on homes went up so much, the tax rate went down, so they had to readjust the base. Troy Bryant asked when they did this. Jason answered maybe it was in August or September. Chairman Kollmeyer said Troy had the figures of $46, 697,000. It was decided that Jason's figures were only one district and Jason said the other base was $10,900,000. At this point Lauren Matthes said something about the base normally going up, but the tape could not pick up her voice to catch the rest of what she was saying. Councilman Bryant commented that reducing the size of the TIF district would benefit other taxing entities such as the School, Library, etc. Lauren Matthes said that schools were not affected. Councilman Bryant said the school system has always supported the Redevelopment Commission with the redevelopment efforts. Councilman Bryant said the school officials were at the last Redevelopment Commission meeting and they were explaining how their financing had changed as far as their budget was concerned. Lauren said no, they don't understand where their finances come from. At this point the tape went bad. In the future, meetings need to always be scheduled for the courtroom. The good tape recorder is in there that is audible. All that can be used in the conference room is a small tape recorder and people cannot be heard in some cases. When the tape picks up again, I think Helen Humes was talking about someone beginning to appreciate what TIF could do for them a little more. Lauren .Matthes said something about TIF being good for them. Troy Bryant said he wanted to say something else about downsizing TIF District gl. He said he thought they all a~eed that bringing the industrial businesses to Town was to lessen the burden on the homeowners providing all the governmental services. As far as TOA being in district # 1, it will be 2011 before the Redevelopment Commission fulfills all of their obligations. If we could just downsize TIF District 1 with the exception of TOA- at this point Lauren Matthes broke in to say TOA'S obligations could not be met if on they were left if TIF 1, because Southbridge, Nicepak, and others were helping with the amount of taxes to meet the obligations of TOA. Councilman Bryant said you have two more years at the $150,000 dollar mark for your obligations, but you still have this balance and if you downsize it you still keep a portion of it and I don't know what portion that would be, but if we did this it would reduce the burden on the homeowner, Lauren said no it wouldn't, Councilman Bryant said but, you just said it would lower their tax rate and Lauren answered yes, but that can be done by passing thru some assessed valuation and not downsizing. Councilman Bryant said but if you pass it thru does that reduce their tax rate, Lauren answered yes. Councilman Bryant said, but what if somewhere down the road you float a bond issue and you can no longer afford to continue to pass thru that assessed valuation -Lauren said that is why you don't downsize a TIF area, because then you don't have the flexibility to bond or give incentives. Councilman Bryant asked when would we receive a benefit from TOA? Laurens reply was inaudible. Dave Kollmeyer said there were a lot of jobs there. Lauren said all of their equipment would be in the base and she said something else that was inaudible.