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No. 2105 expanding the boundaries of SBCDA, expanding the allocation area for purposes of tax increment financing/amending development plan for SBCDA
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No. 2105 expanding the boundaries of SBCDA, expanding the allocation area for purposes of tax increment financing/amending development plan for SBCDA
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10/18/2012 1:45:34 PM
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WHEREAS, the Development Plan for the South Bend Central Development Area as <br />adopted by Resolution No. 737 includes a list of parcels of property to be acquired within the South <br />Bend Central Development Area in order to accomplish the Development Plan; and <br />WHEREAS, there was also presented to this meeting of the Commission for its <br />consideration and approval a proposed amendment to the South Bend Central Development Area <br />Development Plan ("Plan") entitled "Amendment to the South Bend Central Development Area <br />Development Plan, Expansion Area No. 7" ("Amendment"), which said Amendment is attached <br />hereto and incorporated herein as Exhibit "A"; and <br />WHEREAS, the Amendment to the Development Plan sets out the boundaries of the <br />Development Area and further identifies the types of redevelopment projects and purposes to be <br />undertaken n the Development Area; and <br />WHEREAS, the Development Plan as amended herein is entitled the "South Bend Central <br />Development Area Development Plan" dated November 5, 2004 and, the Development Plan as <br />amended herein shall be hereinafter referenced as the "Development Plan"; and <br />WHEREAS, the Development Plan has been revised consistent with the proposed <br />amendment herein and has been considered by the Commission at its meeting; and <br />I* WHEREAS, the Development Plan as amended consists of a typewritten document <br />comprised of 9 pages plus modifications, 2 attachments and 1 exhibit; and <br />WHEREAS, Section 39 of the Act permits the creation of an allocation area within a <br />blighted area to provide for the allocation and distribution, as provided in the Act, of the proceeds <br />of taxes levied on property situated in the allocation area; and <br />WHEREAS, the Commission in accordance with the Act, has previously established the <br />South Bend Central Allocation Area; and <br />WHEREAS, the South Bend Central Allocation Area as expanded has been designated the <br />"South Bend Central Allocation Area No. IA"; and <br />WHEREAS, the Commission, in accordance with the Act, has previously both expanded and <br />contracted the boundaries of the South Bend Central Allocation Area No. 1A to include: <br />Expansion Area No. I by the adoption of Resolution No. 834, adopted on March 11, <br />1988; and <br />Expansion Area No. 2 and Expansion Area No. 3 by the adoption of Resolution No. <br />893, adopted on October 27, 1989; and <br />7 <br />
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