No. 1152 ratifying/confirming Resolution No. 1138, changing the base assessment date for property in the WWCDA

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EXHIBIT A TO RESOLUTION NO. 1152 WEST WASHINGTON - CHAPIN DEVELOPMENT AREA FINDINGS OF FACT MAY 7, 1993 On October 23, 1987, the Commission adopted its Resolution No. 818, declaring the West Washington- Chapin Development Area to be blighted within the meaning of the Redevelopment of Cities and Towns Act of 1953, as amended, and on February 23, 1990, the Commission adopted its Resolution No. 908, expanding the boundaries of the West Washington - Chapin Development Area to those of the Area described. above. The Commission has conducted a study of the Area, and of the West Washington - Chapin Allocation Area (South Bend Allocation Area No. 7), coterminous with the Area. The Commission has determined that it is of public utility and benefit to change the base assessment date for property within the Area from March 1, 1987, to March 1, 1992, and that the public health and welfare will be benefitted by the acquisition and redevelopment of the Area permitted thereby. This finding for the Area is based on the following facts: 1. The blighting conditions identified in Resolution No. 818, including the presence of vacant and, abandoned or vacant buildings, old buildings, substandard structures, and property tax delinquencies, which conditions were found in Resolution No. 908 to extend to the West Washington- Chapin Development Area, as expanded, continue to exist within the Area notwithstanding the redevelopment efforts undertaken by the Commission in the Area since 1987. 2. The presence of blight within the Area, as indicated by the continued presence of the above -noted bl.ighting conditions, necessitates and warrants continued redevelopment activities within the Area by the Commission. 3. Tax increment revenues generated within the Area are necessary to fund continued redevelopment efforts within the Area. 4. Tax increment generated within the Area has diminished to the point that the Area is generating negative increment, due to the reduction in the aggregate assessed value of real property within the Area over the past years. 5. The aggregate assessed value of real property within the Area as of the base assessment date of March 1, 1987, was approximately $9,154,834. 6. The aggregate assessed value of real property within the Area as of March 1, 1991, was approximately $8,041,555. SOU, BEND REDEVELOPMENT COMMISSION Paula N. Auburn, President ATTEST: ' n/,- 01_� 11, ' Theo F. Sharp, Secietar RESO2 /EX -R1138