No. 2199 designating and declaring douglas road EDA, approving EDA plan and establishing an allocation area for purpose of tax incremental financing

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• 4 WHEREAS, Section 39 of the Redevelopment Act pennits the Commission to create an allocation area as part of its declaratory resolution establishing an economic development area and the Commission deems it advisable to create an allocation area within and coterminous with the Area described in the fifth WHEREAS clause above; and NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission that in all proceedings related to the development of the Area described in the fifth. WHEREAS clause above shall be hereinafter referred to as the "Douglas Road Economic Development Area". BE IT FURTHER RESOLVED that the Commission now declares the Douglas Road Economic Development Area to be lacking in adequate public improvements to facilitate private development and is a detriment to the social and economic interests of the City Of South Bend and its inhabitants and that the development of the Douglas Road Economic Development Area in accordance with the Economic Development Plan and the Redevelopment Act will be of public utility and benefit. 0 BE IT FURTHER RESOLVED that the Commission makes the following Endings: (I). The Economic Development Plan for the Douglas Road Economic Development Area attached hereto and incorporated herein as Exhibit "All ("Economic Development Plan") will promote significant opportunities for the gainful employment of the citizens of the City of South Bend. (2). The Economic Development Plan will attract new business enterprise to the City of South Bend. (3). The Economic Development Plan cannot be achieved without designating the area described in the fifth WHEREAS clause above as an economic development area in accordance with the provisions of the Redevelopment Act as set forth at Ind. Code §36-7-14 et seq. because of the lack of local public improvements, including improvements to Douglas Road, and local water and sewer service and the lack of development of major portions of said area. (4). The ordinary operation of private enterprise and regulatory processes in the Douglas Road Economic Development Area have failed to correct the conditions noted above. (5). The public health and welfare will be benefited by accomplishment of the is Economic Development Plan for the Douglas Road Economic Development Area. Res2199—SB RC—Declaratory.051202.dac 3