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

Home Browse Search

and WHEREAS, the Plan conforms to other development and redevelopment plans for the City; WHEREAS, Indiana Code § 36- 7 -26 -1, et seq., provides for the creation of an economic development project district to provide for the allocation and distribution of the incremental state gross retail and use tax revenues attributable to investment in the district and resulting from the redevelopment and economic development of the district, and the Commission deems it advisable to create such an economic development project district to be designated as the "South Side Economic Development Project District" as described herein; and WHEREAS, the Commission has, a meeting held this day and open to the public heard evidence and reviewed the maps and plats presented at the meeting and considered same. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, AS FOLLOWS: 1. The Commission hereby finds and declares that redevelopment and stimulation of economic development benefit the health and welfare of the citizens of South Bend, are public uses and purposes for which the public money may be spent and are of public utility and benefit. 2. The Commission hereby finds and declares that economic conditions in the area described in the fifth WHEREAS clause above are stagnant or deteriorating. 3. The Commission hereby finds and declares that present economic conditions in the in the area described in the fifth WHEREAS clause above are beyond remedy and control by existing regulatory processes because of the substantial public financial commitments necessary to encourage significant increases in economic activities. 4. The Commission hereby finds and declares that the economic development of the area described in the fifth WHEREAS clause above cannot be achieved without a coordinated effort of local and state government. 5. The Commission hereby finds and declares the area described in the fifth WHEREAS clause above to be an economic development project district within the meaning of Indiana Code § 36- 7 -26 -1, et seq., and shall be hereinafter referenced as the "South Side Economic Development Project District" ( "District ") subject to approval by the State Board of Finance, approval by ordinance of the Common Council of the City of South Bend and thereafter, a confirmatory resolution of the Commission after a duly called meeting. 6. The Commission hereby finds and declares that the "South Side Economic Development Project District Development Plan" ( "Plan") attached hereto and incorporated herein as Exhibit "A" conforms to other development and redevelopment plans for the City and is reasonable and appropriate when considered in relation to Ind. Code 36 -7 -14 and Ind. Code 36 -7 -26. C, a