No. 1151 designating the SEDA, declaring the SEDA to be blighted, approving a development plan and conditions under which relocation payments will be made, and establishing an allocation area for purposes of TIF

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14. Any taxes levied on real property imposed under I.C. 6 -1.1 in the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8) in 1993 for collection in 1994 and thereafter, and any taxes. levied on depreciable personal property that has a useful life in excess of eight (8) years, as determined by the State Board. of Tax Commissioners, imposed under I.C. 6 -1.1 within Parcel Three. or Parcel Four within the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8), as described in paragraph 13.C. and 13.D., above, in 1993 for collection in 1994 and thereafter, except as hereafter provided, for the benefit of any public body entitled to a. distribution thereof, shall be allocated and distributed as provided. in the allocation and distribution provisions of the Act, and more particularly as follows: a. The proceeds of the taxes attributable to the lesser of: (1) the assessed value of the property for the assessment date with respect to which the allocation and distribution is made; or (2) the assessed value of all property as finally determined for the assessment date immediately preceding the effective date of these allocation provisions, which assessment date is March 1, 1993, shall be allocated to, and when collected shall be paid into the funds of the respecting taxing unit entitled to a distribution of such taxes. b. The property tax proceeds in excess of those described in subdivision (a) above, shall be allocated to the South Bend Redevelopment District, and, when collected, paid into a special. fund hereinafter created in paragraph 1.8 and used for the purposes permitted in paragraph 19 and by the Act. 15. In order to facilitate and enhance replanning, redevelopment, and disposal of property within the Area in the manner that best serves the social and economic interests of South Bend and. its inhabitants, each of the Allocation Areas described above in paragraphs 12.A. and 12.B., and 13.A., 13.B., 13.C., 13.D., and 13.E. shall be and hereby are amended and merged for all purposes under the Act by expanding the boundaries of each area to make the boundaries of each area co- terminus with the boundaries of the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8), hereby establish, which boundaries shall. be as follows: Sample -Ewing Allocation Area (South Bend Allocation Area No. 8) That part of Sections 10, 11, 12, 13, 14, 15, 16, 21, 22, 23 and 24 in Township 37 North, Range 2 East, and Section 18 in Township. 37 North, Range 3 East all in St. Joseph County, Indiana which is described as: Beginning at the intersection of the Centerline line of Michigan Street (99.00 ft. wide) and the South Right of Way line of Sample Street extended West,; thence North along said Centerline of Michigan Street to its intersection with the Northerly Right of Way line of the Conrail Railway (formerly Penn Central Railroad) extended East; thence Westerly and Northwesterly along said Northerly Right of Way line to the Southeast Corner of Lot 1 in the unrecorded plat of "GUILDFOYLE'S ADDITION" and the West Right of Way line of Arnold Street; thence South along the West Right of Way line of Arnold Street to the North Right of Way of Sample Street, said point being the Southeast Corner of Lot # 48 in the recorded plat of "ARNOLD & WEBSTER'S SUB- DIVISION OF BANK OUTLOT #103" as recorded in the records of said county; thence West along the North Right of Way line of Sample Street to the intersection of the Northwesterly Right of Way line of the New Jersey, Indiana and Illinois. Railroad; thence Southwesterly along said Northwesterly Right of Way line to a point which is 300 ft. more or less South of the North Right of Way line of Meadow Lane extended East, said line -22-