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$0 Sandy Lundy, 324 Northeast Street, wanted to be assured that there is no way the town could take her house. Bruce Donaldson assured Mrs. Lundy that the redevelopment plan pro- hibited the town from taking private property for any redevelopment projects. Reverand William Wright, State Road 144, asked the Council if the word "Blight" could be deleted from the redevelopm~t plan. Bruce Donaldson addressed the tern 'Blight". w~ ~xolained it is a legal term which was written into the Tax Increment i Finance~ legislature by the State Legislature and the tern 'Blight" n~st be in the plan. Lewis Collins, 218 E. South Street, asked that since his house was in the 'Blighted" district does that mean his house is conde~ned? Mike Frazier stated that absolutely not, no house is 'Blighted" the district is 'Blighted" due to deteriorating in fastructure. Kay Turner, 79 Circle Drive, asked how m~ch the town will bond to fix the sewer lines. Myron Frazier stated that the bond amount will depend on the amount of incr~nent in the TIF District. Mrs. Turner then asked how n~ch Rmndy Haymaker will receive when the bonds sell. Mr. Haymaker stated he receives nothing from the bond sale as he is on the town payroll and receives only his salary. Jeronm Witte, owner of J.M. Witte Realtors, stated to the audience that there is a d~nand for property in Mooresville and many tinms those demands cannot be met. Mr. Witte assured the people that Tax Increment Finance will enhance the property values in M~oresville, it will not lower the demand for property. Steve Cox, of Carpenter Better Homes and Gardens, st~ thmt improvements which will be made as a result of TIF will~r-~iis~i~d~m~ v~lue~df property in the TIF District. He stated that the property in the TIF district is not easy to sell, everyone wants to live west of Indiana Street. Mr. Cox agreed that the term 'Blighted" was causing n~ch concern to the residence of M~oresville, more attention than the TIF will bring to potential home buyers. Mr. Cox also stated that business has been lost due to lack of sewer availability and TIF can help solve this problem, if sewer rates increase property values could drop. A1 Hornaday, School Board Member, asked whmt effect TIF will have on the school corporation's Capital Building Fund. Myron Frazier answered by saying that when the TIF nmey is put back into the district the assessed value of the property will rise which will increase the amount of assessed value available to be taxed which will increase revenue for the school. Mr. Hornaday asked if it is the plan of the Council to TIF the Caperton project in the future. EDC Director Rmndy Haymaker explained that if the town does TIF the Caperton project that the entire process will have to be repeated to re- contruct the district. Jeff Lundy, asked if you owned property in the TIF District could you add a bathroom onto your property. He was assured a bathroom could be added. Mr. Bill Bailey, 7 E. High Street, asked if the tax dollars he is paying now will go the santo place they have always gone. Myron Frazier explained yes they will, it is taxes paid on development assessed after March 1, which would be used for TIF. Joe Neal, stated that the proposed town comprehension plan points a rosey picture of the town of Mooresville and the redevelopment plan says the town is going down the drain. Mr. Neal wanted to know how TIF was going to help the rest of the town.