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right -of -way line of Ireland Road; thence East along said North right -of -way line to the <br />West right -of -way line of Michigan Street; thence Northeasterly and Northerly along said <br />West right -of -way line of Michigan Street to a point 100 feet North of the centerline of <br />Ireland Road; thence East to the East right -of -way line of Michigan Street; thence <br />Southerly and Southeasterly to the North right -of -way line of Ireland Road; thence East <br />along said North right -of -way line of Ireland Road to the West right -of -way line of Miami <br />Street; thence Northeasterly and North along the West right -of -way line of Miami Street to <br />the South right -of -way line of Alpine Drive projected West; thence East along said South <br />right -of -way line and its projection to the East line of Lot A Broadmoor Section 3 Revised; <br />thence Southeasterly to the Northeast corner of Lot 254; thence East and Northeasterly to <br />the Northeast corner of Lot 247; thence Southeasterly to the Southwest corner of Lot 246 <br />and being on the North right -of -way line of Ireland Road; thence East along said North <br />right -of -way line to the West right -of -way line of Ironwood Road; thence Northeasterly <br />and North along said West right -of -way line of Ironwood Road to a point 100 feet North of <br />the centerline of Ireland Road; thence East to the East right -of -way line of Ironwood Road; <br />thence Southeasterly to the North right -of -way line of Ireland Road; thence East along said <br />North right -of -way line of Ireland Road to the place of beginning containing 217.70 acres <br />more or less. <br />WHEREAS, as a result of its investigations, studies and surveys, the Commission has <br />found that the area heretofore described and proposed as the "South Side Economic Development <br />Project District" ( "District ") is stagnant and deteriorated, that economic conditions in said area <br />are beyond remedy and control by existing regulatory processes because of the substantial public <br />financial commitments necessary to encourage significant increased in economic activities in <br />said area, and economic development of said area can be accomplished only by a coordinated <br />effort of local and state governments; and <br />WHEREAS, the Commission has heretofore caused to be prepared maps and plats <br />showing the boundaries of the proposed District, a complete list of street names and the range of <br />street numbers of each street situated in the proposed District, a plan for the redevelopment of the <br />proposed District describing the local public improvements necessary or appropriate for the <br />redevelopment or economic development of the proposed District; and <br />WHEREAS, the Commission has determined that the proposed District contains a <br />commercial retail facility with at least five hundred thousand (500,000) square feet; and <br />WHEREAS, there was presented to this meeting of the Commission for its consideration <br />and approval, a copy of the plan for redevelopment and economic development of the proposed <br />District, dated Q,,r ch , 2003, which plan is entitled the "South Side Economic <br />Development Project District Development Plan" ( "Plan") as proposed by this Declaratory <br />Resolution dated M o, r c V\, c� I , 2003, and consisting of 3q pages and 0 exhibits;, a <br />copy of which is attached hereto and incorporated herein as Exhibit "A dnd <br />33 <br />