No. 1908 amending the declaratory resolution for the SEDA

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WHEREAS, the Commission now desires to amend the Declaratory Resolution in accordance with Section 17.5 of the Act; NOW THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1. After considering the evidence presented at the hearing on the 6`h day of September, 2002, the Commission hereby designates AJW South Bend Realty Corporation and The TJX Companies each as a "designated taxpayer" for purposes of Section 39.3 of the Act (the "Designated Taxpayer ") and hereby finds that (i) taxes to be derived from the depreciable personal property of the Designated Taxpayer, in excess of the taxes attributable to the base assessed value of such personal property, are necessary to provide revenues to pay the debt service on bonds issued under Section 25.1 of the Act; and (ii) the property of the Designated Taxpayer in the Area will consist primarily of manufacturing, warehousing, processing, distribution or transportation- related projects and not retail, commercial or residential projects. 2. The Commission hereby amends the Declaratory Resolution to provide that in addition to the allocation of taxes provided for in the Declaratory Resolution, any property taxes levied on the personal property of each Designated Taxpayer located in the Area in 2002 for collection in 2003, and thereafter, except as otherwise provided in Section 39 of the Act, by or for the benefit of any public body entitled to a distribution of property taxes on taxable property in the Area shall be allocated and distributed as set forth in the Declaratory Resolution. 3. The Commission finds that the Amendment is reasonable and appropriate when considered in relation to the Declaratory Resolution and the Plan and purposes of I.C. 36- 7 -14. 4. The Commission finds that the Declaratory Resolution, with the proposed Amendment, conforms to the comprehensive plan of the City. 5. The Declaratory Resolution is amended to include the Amendment, and is hereby in all respects approved. 6. The Secretary is hereby directed to file a certified copy of this resolution with the minutes of this meeting. 7. The Secretary is directed to cause the recording of this resolution pursuant to the requirements of I.C. 36- 7- 14- 17.5(g). 8. All other findings, determinations, and conclusions in the Declaratory Resolution shall remain as stated therein. SBIMANI 132111A - 3 -