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