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3 <br />questioned that this would eliminate the opportunity to get a pharmacy on the 49 Club site. Mr. <br />Stranik suggested to hold off on a recommendation until after the neighborhood meeting and <br />response from the developer. <br /> <br />TIF LEGISLATION <br />The city is seeking special legislation due to the 22 acres of the Legacy project on 35W that went <br />tax forfeit due to the recession. The City must continue to pay bonds on the improvements until <br />the parcels develop, at which time the city can reassess the properties. This legislation is a <br />temporary fix that would allow the increment from TIF District 1-10 to be used to help pay the <br />bonds until development of the parcels occur. It will cover approximately $173,000 of the <br />approximately $500,000 bond payments. It appears that it will pass in the tax bill. Several cities <br />are asking for special TIF legislation. <br /> <br />RACETRACK <br />Ms. Divine informed the board that IMEDC has made no further contact with the city. <br />Discussions with Columbus indicate they have not heard further either. <br /> <br /> <br />Meeting adjourned.