No. 1990 designating the SSED project district, approving the SSED project district dev plan as modified and determining to create an economic development project district for purposes of sales TIF

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the District as modified and approved by the State Board of Finance; and WHEREAS, in accordance with Ind. Code § 36- 7- 26 -15, after receipt of the written approval of the Board and approval of the South Bend Common Council, the Commission caused to be published a Notice of Public Hearing in accordance with Ind. Code § 5 -3 -1 in the South Bend Tribune and Tri- County News with such Notice advising of the adoption and substance of its Declaratory Resolution No. 1955, including a general description of the boundaries of the District and advising that information concerning the District is available for inspection at the City of South Bend Department of Redevelopment, and naming Friday, August 22, 2003, at 10:00 a.m., Eastern Standard Time, in Room 1200 of the County -City Building, 120' Floor, 227 West Jefferson Boulevard, South Bend, Indiana as the date, time and place of the Public Hearing at which time the Commission will hold a hearing and receive and hear written remonstrances and other testimony from persons interested in or affected by the establishment of the District; and WHEREAS, at the Public Hearing held by the Commission on Friday, August 22, 2003, at 10:00 a.m., Eastern Standard Time, in Room 1200 of the County -City Building, 12' Floor, 227 West Jefferson Boulevard, South Bend, Indiana, the time and place so stated in the notice, the Commission heard all persons interested in or affected by the proceedings and received O written remonstrances and objections that had been filed; and WHEREAS, the Commission has now received testimony from all persons who have expressed views or voiced any objections to its Declaratory Resolution No. 1955 proposing the establishment of the South Side Economic Development Project District and the Development Plan, as modified, it has considered their written remonstrances, and therefore, the Commission is prepared to take final action on said Declaratory Resolution No. 1955 creating the South Side Economic Development Project District. NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. That after careful consideration of the evidence presented, careful consideration of the comments and objections made at the Public Hearing and upon further review of the entire proceedings, the Commission hereby finds that the redevelopment and economic development of the District as described herein will: a. Attract new business enterprises to the District or retain or expand existing businesses in the District; and b. Benefit the public health and welfare and be of public utility and benefit; and C. Protect and increase state and local tax bases or revenues; and d. Result in a substantial increase in temporary and permanent Page -4-