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THE COMMISSION NOW FINDS THAT: <br />1. The hereinabove described Property is not suitable for commercial leasing because <br />it would require the Commission to make a significant financial investment in the <br />Property and such use would be inconsistent with the Commission's plan for <br />redevelopment of the Property. <br />2. It is unnecessary to obtain appraisals as to the rental value of the Property because <br />the Property is not suitable for commercial tenancy in its current condition. <br />3. The Commission does not anticipate leasing the Property now or in the foreseeable <br />future and its sole intent for the Property is demolition of the improvements located <br />thereon in order to facilitate future development projects in the Area in furtherance <br />of the South Bend Central Development Area Development Plan. <br />4. The Commission believes that any short or long term lease of the Property would be <br />inconsistent with its intended use of the Property. <br />5. The Commission believes that the temporary use of the Property by ERFA will help <br />to ensure that the Property is suitably maintained until such time as the Commission <br />proceeds with its intended demolition. <br />6. The purposes for which ERFA intends to utilize the Property on a temporary basis <br />may help to spur renewed interest in the Area and thereby facilitate future economic <br />development of the Area. <br />7. Permitting the temporary use of the Property by ERFA will provide the Commission <br />with the maximum flexibility to schedule demolition of the Property in the future. <br />8. Temporary use of the Property by ERFA will not impede implementation of the <br />Development Plan and will best serve the interest of the community from the <br />standpoint of both human and economic welfare. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />1. In accordance with the terms and conditions expressed herein, the Commission <br />hereby grants East Race Fire Arts permission to utilize the Property on a temporary <br />basis for artists' studios and for the display of art work subject to: <br />a. ERFA's agreement to undertake clean-up and minor repair of the <br />Property; and <br />2 <br />