No. 2206 ratify/confirmation resolution no. 2199 designating douglas road EDA, approving a develop plan and conditions which relocation pmts will be made and establishing allocation area for tax incremental financing within douglas road EDA

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. INTRODUCTION The Douglas Road Economic Development Area ( "Area ") provides the City of South Bend with a unique opportunity to improve its economic position in a Midwestern, regional and local context. By creating a new area for commercial development, the city will generate new jobs, increase its tax base, diversify business opportunities and compete in a larger marketplace, while generating millions of dollars of new investment for North Central Indiana. The Area, which is zoned primarily for commercial purposes, is a prime site for new development due to its ready access to a large, regional, commercial retail corridor in the Grape Road /Main Street Commercial District in Mishawaka. As available development area on Grape and Main has been consumed over the last twenty years, commercial retail and commercial office uses have begun to spread along the east - west arterials like Edison Road, Day Road and Douglas Road. The proposed Area is located at the easternmost point of the city limits of the City of South Bend and is a logical extension of the commercial development that is already developing along Douglas Road between State Road 23 and Grape Road. While the above mentioned factors combine to provide a strong impetus for development of this Area, lack of suitable roadway access and the absence of utility infrastructure have hindered normal development of an otherwise prime development 10 site. It is the expectation of the Redevelopment Commission that the development of this Area will produce a significant increase in the city's overall economic vitality. To achieve this, however, the Redevelopment Commission and the City of South Bend must be able to provide the necessary public improvements to make the site suitable for new development. This requires public funds for capital improvements. The best method for funding these improvements without adding to the tax burden is through tax incremental financing. This tool is currently available only in redevelopment and economic development areas and will be of the utmost importance in this project. By using the tax increment generated by new development, the city will be in a position to provide the necessary capital improvements to spur future growth and development of this Area and the South Bend community as a whole. DESCRIPTION OF PROJECT Boundaries of the Douglas Road Economic Development Area The boundaries of the Douglas Road Economic Development Area are attached as Exhibit "A ".