No. 1154 modifying/confirming Resolution No. 1151 designating the SEDA, delaring the SEDA to be blighted, approving a dev. plan/conditions under which relocation payments will be made, establishing an allocation area for purposes of TIF

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I The Studebaker Corridor was declared a redevelopment and tax increment allocation area in 1986. Soon after the declaration, the Redevelopment Commission began seeking funds to implement the redevelopment and revitalization plan. A successful general obligation bond petition drive was completed in 1990 and work began to acquire, relocate, clear and assemble sites for redevelopment purposes. Prior to Redevelopment's initial efforts, the former Studebaker Motor Company's main complex consisted of 12 buildings with a total of 4,808,544 square feet of space. Many of the buildings were severely under utilized, some were vacant, and all had major deferred maintenance problems. Active businesses were located in several of the buildings, including Allied Products' South Bend Stamping Division (now EWI), Huckins Tool and Die, South Bend Lathe, and several multi- tenant facilities. Of the 4,808,544 square feet of space over 48 percent was vacant and much of the occupied space required substantial repairs. The fringe area, adjacent to the former plant area, included many small viable businesses, interspersed among a number of incompatible, deteriorating land uses. These land uses included deteriorating residential structures, many of which were subdivided for multi- tenant purposes. Deteriorating commercial and industrial buildings and small parcels of vacant land along Michigan, Main and Lafayette also added to the negative conditions and image of the area. Several areas within the fringe area contained fragmented ownership patterns, abandoned or inactive rail lines and areas of difficult access, parking and internal circulation. Phase one of the Studebaker Corridor redevelopment plan is nearing completion. There have been 81 parcels of land acquired, 86 relocations have been completed , and 39 structures have been demolished. Approximately thirty (30) acres of land have been assembled for disposition and planning is beginning for a capital improvement program for the area. Several parcels have been sold and construction has started on the Policemen's Federal Credit Union and Real Services buildings. Bids have been received for several other parcels and construction is expected to begin in 1993 on Alcon's warehouse /distribution building, and Murdock & Sons Construction's storage, vehicle and yard offices. It is anticipated that additional projects will follow later in 1993. Progress is being made, but much remains to be done, particularly in the southern section of the fringe area and in the main complex area, both north and south of Sample Street. For planning purposes, the Studebaker Corridor sub -area has been divided into four sectors (See Map 8.): 1. the industrial fringe area between the railroad lines (north), Michigan Street (east), Franklin Street (west), and Ewing Avenue (south); -26- 5/21/93