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No. 0965 amending resolution No. 919 to expand the AEDA and amend the economic development plan for the AEDA
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No. 0965 amending resolution No. 919 to expand the AEDA and amend the economic development plan for the AEDA
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10/18/2012 3:06:26 PM
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4 •4. <br />Area, if any, who will be displaced by the redevelopment thereof; <br />and <br />WHEREAS, Section 43 of the Act establishes that an economic <br />development area may be an allocation area for the purposes of <br />distribution and allocation of property taxes; and <br />WHEREAS, Section 39 of the Act has been enacted to permit the <br />creation of allocation areas within an economic development area <br />to provide for the allocation and distribution, as provided in the <br />Act, of the proceeds of taxes levied on property situated in an <br />allocation area, and the Commission deems it advisable to expand <br />the allocation area created in the Original Economic Development <br />Area by Resolution No. 919 (the "Original Allocation Area ") to <br />include Expansion Area No. 1 and Expansion Area No. 2, so that such <br />allocation area, as expanded, will be within and coterminous with <br />the Area; and <br />WHEREAS, the Plan for the Area conforms to other development <br />and redevelopment plans for the City; <br />NOW THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />1. The Commission hereby finds and determines that the Area <br />is an economic development area in that the Plan for the Area: <br />a <br />(a) promotes significant opportunities for the gainful <br />employment of the citizens of the City; <br />(b) retains or expands a significant business enterprise <br />existing in the boundaries of the City; and <br />(c) meets the other purposes of Sections 2.5, 41 and 43 of the <br />Act. <br />2. The Commission hereby finds and determines that the Plan <br />for the Area cannot be achieved by regulatory processes or by the <br />ordinary operations of private enterprise without resort to the <br />powers allowed under Sections 2.5, 41 and 43 of the Act because of: <br />(a) lack of local public improvement; and <br />(b) multiple ownership of land. <br />3. The Commission hereby finds and determines that the public <br />health and welfare will be benefited by accomplishment of the Plan <br />for the Area. <br />-7- <br />tapitman\bonds \airport \res#965;11 /08/90 <br />
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