South Bend Common Council discusses PSCDA
SOUTH BEND, Ind. (WNDU) - The South Bend Common Council met Monday to discuss an ordinance that would create the professional sports and convention development area (PSCDA) fund.
The council passed a resolution to establish a PSCDA taxing area at their previous meeting.
The bill discussed today creates the fund where revenue will be deposited and from which expenditures will be made. The fund is expected to accumulate anywhere between $1.5-2 million in revenue annually.
“It captures taxes, specifically sales taxes and income taxes that would have otherwise been remitted down to the state,” City Controller Daniel Parker said. “Instead, it keeps those taxes here locally to be used for capital projects on city-owned facilities that are within the taxing area. In this case specifically, convention areas or professional sports complexes such as the baseball field.”
The bill was sent to the full council with a favorable recommendation. The City of South Bend also wants to make clear that the passing of this bill does not create any new taxes or increase taxes for the public.
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