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No. 1955 designating/declaring the SSED projectdistrict, approving the SSED project district development plan and determining to create an economic dev project district for purposes of sales TIF
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No. 1955 designating/declaring the SSED projectdistrict, approving the SSED project district development plan and determining to create an economic dev project district for purposes of sales TIF
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(grey lots) usually found at a greyfield site. The four municipalities <br />referenced within the code section all have a greyfield site that the district <br />,rr status will aid in revitalizing. South Bend qualifies under Indiana Code for <br />this status because it is a "city with a population of more that ninety <br />thousand (90,000) and less than one hundred ten thousand (110,000)" (IC <br />36- 7- 26 -1(2)) and contains "a commercial retail facility with at least five <br />hundred thousand (500,000) square feet (IC 36- 7 -26 -14 (a)(3)(b)). <br />As a component of the declaration process, the city petitioning to <br />designate a project district must establish that present economic <br />conditions in the proposed project district are stagnant or deteriorating <br />and that present economic conditions in such areas are beyond remedy <br />and control by existing regulatory processes because of the substantial <br />public financial commitments necessary to encourage significant <br />increases in economic activities in such areas and that the new district will <br />encourage economic development within the district. <br />The basic goal of the establishment of an economic development project <br />district is to increase economic development activities that will do the <br />following: <br />• Attract new businesses and encourage existing business to remain <br />orexpand <br />• Increase temporary and permanent employment opportunities and <br />private sector investment <br />• Protect and increase state and local tax bases <br />• Encourage overall economic growth in Indiana <br />In the case of the proposed South Side Economic Development Project <br />District, the four goals listed above are the goals of not only the project <br />district but also the South Side Development Area as a whole. <br />C. Process for Designation of an Economic Development Project District <br />The designation process for a project district is very similar to the <br />designation process for a redevelopment area. When the Redevelopment <br />Commission determines that the present economic conditions of an area <br />situated within the commission's jurisdiction are stagnant or deteriorating, <br />the Commission may require the establishment of an economic <br />development project district. As part of the designation process, the <br />Commission shall assemble data sufficient to make the determination for <br />L9 <br />
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