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No. 1545 making certain technical corrections to resolution No. 1349 and expanding the allocation area for purposes of TIF and amending the AEDA development plan
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No. 1545 making certain technical corrections to resolution No. 1349 and expanding the allocation area for purposes of TIF and amending the AEDA development plan
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9. To increase use of the South Shore Railroad (when relocated to the <br />Michiana Regional Airport). <br />Obstacles to Achieving the Economic Development Plan <br />Although the Airport Economic Development Area has the potential to be <br />a prime site for new growth, the economic development plan for the Area <br />cannot be achieved by regulatory processes or by the ordinary operation of <br />private enterprise because of: <br />1. Lack of necessary public improvements in the Area, such as: <br />adequate internal circulation, utilities and other infrastructure <br />related to the orderly growth and development of new commercial, <br />office and light industrial concerns. <br />2. Multiple and fragmented ownership of land, which makes the <br />assemblage of larger or contiguous parcels difficult. <br />Proposed Economic Development Activities <br />Realization of the stated goals and objectives will be accomplished by a <br />combination of public and private actions. These actions could include, <br />but are not limited to, the following: property acquisition, relocation, <br />clearance and dedication of public right -of -way, provisions for public <br />facilities and improvements and any other activity pertaining to planning <br />and implementing an economic development plan. <br />Expected Public Benefit From the Economic Development of the Area <br />The implementation of the Airport Economic Development Plan will <br />result in several public benefits to the citizens of South Bend, including: <br />1. Significant new job creation resulting from the new development <br />as well as expansion of office, commercial and industrial uses <br />within the Area. <br />2. Increase and diversification of the City's tax base. <br />3. New private investment and development as well as the expected <br />expansion of existing businesses, expecially in the Airport and Toll <br />4 <br />
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