No. 1914 designating the SSDA declaring the SSDA to be blighted/ establishing an allocation area for purposes of TIF

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BE iT FURTHER RESOLVED that all proceedings related to the redevelopment of the herein described area shall be referred to as the South Side Development Area. BE IT FURTHER RESOLVED that the redevelopment of the Area shall be in accordance with the South Side Development Area Plan. BE IT ALSO RESOLVED, that the Commission proposes the following findings subject to confirmation after a duly called public meeting: i. Based upon evidence submitted to the Commission, the Commission finds and determines that there is a substantial presence in the area designated as the South Side Development Area ( "Area ") of excessive vacant land or which structures were located, abandoned or vacant buildings, old buildings, excessive vacancies, substandard structures and delinquency in the payment of real property taxes. ii. The Commission further finds that the Area is blighted and constitutes a menace to the social and economic interest of the City of South Bend and its inhabitants, and it will be of public utility and benefit to acquire land within such Area and to redevelop it under the Act. iii. The assessed value of the real property of the Area when added to the assed value of the real property located in all redevelopment areas does not exceed twenty percent (20 %) of the total assessed value of the real property located in the City of South Bend. iv. The South Side Development Area Plan ( "Plan ") for the Area will result in the demolition and/or selective demolition and reuse of severely blighted structures. Alleviating this blight and its blighting influence is projected to be a catalyst to ongoing and future development in the area. V. The Plan for the Area delineates four (4) Sub -Areas to be known as (i) the East Ireland Road Sub -Area; (ii) the Erskine Hills Sub -Area; (iii) the South Gateway Sub -Area; and (iv) the Michigan & Main Street Commercial Corridor Sub -Area. vi. The Plan for the Area allows for the designation of an overlay area within the Erskine Hills Sub -Area for a Sales Tax Increment Finance ( "STIF ") District. vii. The Plan for the Area cannot be achieved without the designation of the Area as a redevelopment area because the presence of both "brownfield" and "greyfield" conditions within the Area and because of the existence of blighted conditions as defined at Ind. Code § 36- 7 -1 -3. -3-