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South Bend Redevelopment Commission <br />Regular Meeting — November 18, 2005 <br />6. NEW BUSINESS (CONT.) <br />I. Other <br />(1) continued... <br />In order to declare an area to be an economic <br />development area, the Commission must find <br />that the following conditions exist: <br />• a lack of local public improvements; <br />• the existence of improvements or <br />conditions that lower the value of the <br />land below that of nearby land; and <br />• multiple ownership of land; or other <br />similar conditions <br />The Commission must also establish a <br />development plan for the area that <br />accomplishes the following: <br />• promotes significant opportunities for <br />the gainful employment of its citizens; <br />• attracts a major new business enterprise <br />to the unit; <br />• retains or expands a significant business <br />enterprise existing in the boundaries of <br />the unit; <br />• demonstrates that the public health and <br />welfare will be benefited by <br />accomplishment of the plan; <br />• will increase the economic well -being of <br />the unit and the state; <br />• serves to protect and increase property <br />values in the unit and the state; <br />• meets other purposes of this section and <br />sections 2.5 and 43 of this chapter; <br />Once the Commission has reviewed the draft <br />plan and made all of its findings, the <br />Redevelopment Commission must further <br />28 <br />