11-08-10 Council Agenda & Packet

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(12) Economically Distressed Area , means those, Census Tracts in the City that the Council determines have the highest levels of poverty and unemployment, and the lowest levels of median income. According to the 2000 Census these are currently tracts 20,_21,_23 - 19,_6, 29, 10, 27, 17, 1, 30, 22, 24, 5, and 4. Be ig nning with the release of the 2010.Census data, and for each subsequent Census, the following process shall be followed to determine the 15 Census Tracts that will be included in the Economically Distressed Area: (1) For each census tract in South Bend, calculate the following from rom the decennial census-.-the poverty rate (from _^ m !_P53), and the unemployment Table P87), median household income Table o .,_ rate from Table P43 2 Assigg each census tract 3 ranks one each for poverty, income and unem to ent with the lowest ranks for those Census tracts with the highest 12overty and unemployment rates and the lowest income 3 Add each of the 3 ranks together to get a total for each census tract. The 15 census tracts with e lowest total scores are _included in the Economically Distressed Area. A map _of_the Economically Distressed Area is available in he City Clerk's Office and on the City of South Bend's website. (11) (13) Economic Development Target Area and EDTA mean the area located within the City's corporate boundaries designated by the Economic Development Commission as amended from time to time, and filed with the City Clerk's Office with notice to the President of the South Bend Common Council and the Chair of the South Bend Common Council's Community And Economic Development Committee. A maximum of fifteen (15) percent of the total geographic territory of the City may be designated as Economic Development Target Areas. (- LL41 Economic Revitalization Area and ERA have the meaning set forth in IC 6- 1.1- 12.1 -1 et seq. ( (15) Hard - dollar costs means expenses directly related to the proposed new construction or rehabilitation excluding costs of land, financing, architect, engineering, and attorney fees. " fL61 Industrial development . means and includes the economic activities described in major groups 31 through 33 of the North American Industry Classification System -- United States, 2002 manual published by the United States Office of Management and Budget's Economic Classification Policy Committee, which manual is hereby incorporated by reference, with copies being maintained in the Office of the City Clerk. (1} LU7 Institutional development means the development of day care, educational, medical or og_ yernmental facilities that are both privately owned and taxable. 3