No. 0986 expanding boundaries of Studebaker Corridor Development Area, expanding allocation area for purposes of TIF and amending the Studebaker Corridor Development Area Development Plan

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WHEREAS, Resolution No. 762 was further amended by Resolution No. 962, adopted on November 9, 1990; and Aft WHEREAS, the Commission has previously caused to be prepared maps and plats of the Studebaker Corridor Development Area, has supplemented the maps and plats of said area and has caused to be prepared maps and plats of an additional area immediately adjacent to the Studebaker Corridor Development Area ( "Expansion Area No. 1 "), said maps and plats of the Studebaker Corridor Development Area and Expansion Area No. 1 show the boundaries of said areas, the location of the various parcels of property, streets, alleys and other features affecting the acquisition, clearance, replatting, replanning, rezoning or redevelopment of said areas and parts of the areas that are to be devoted to public ways, levees, sewerage, parks, playgrounds and other public purposes under the plan for the redevelopment of the Studebaker Corridor Development Area and Expansion Area No. 1 as adopted herein, which Expansion Area is more particularly described as follows: Expansion Area No 1 A parcel of land being part of the City of South Bend, Portage Township, St. Joseph County, Indiana, and being more particularly described as follows: Beginning at a point on the centerline of Indiana Avenue and its intersection with the West right -of -way line of Michigan Street extended South; thence North 00 000115" West along the West right -of -way line of Michigan Street and its said extension, 2636.58 feet to the centerlline of Sample Street; thence South 89 054156" East along said centerline, 50.00 feet to the centerline of Michigan Street; thence North 00 003123" West along said centerline, 1393.28 feet; thence North 89 °51146" West along the centerline of an East -West alley, 222.00 feet; thence South 00 005140" East along the centerline of an existing North -South alley, 893.08 feet to the centerline of an existing East -West alley; thence North 88 051104" East along said -„ centerline 35.00 feet; thence South 00 006126" EasF along the centerline of an existing North -South � alley, 501.16 feet to the centerline of Sample Street; thence North 89 054156" West along said centerline 36.03 feet to the centerline of an - existing North -South alley; thence South 00 °00143'x' West along the centerline of a North -South alley, � 2638.14 feet to the centerline of Indiana Avenue; thence North 89 °34'04" East along said centerline, 172.75 feet to the Point of Beginning. Containing 17.119 acres; and WHEREAS, the Commission desires to further amend Resolution No. 762 by expanding the Studebaker Corridor Development Area to include Expansion Area No. 1 (The Studebaker Corridor Development Area and Expansion Area No. 1 are referred to hereafter as the "Area ") so as to facilitate and enhance the replanning, redevelopment and disposition of property within the Area; and WHEREAS, Section 39 of the Act permits the creation of an allocation area within a blighted area to provide for the allocation and distribution, as provided by the Act, of the proceeds of taxes levied on property situated in the allocation area; and WHEREAS, the Commission in accordance with the Act, has previously established the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6); and WHEREAS, the Commission now desires to expand the boundaries of the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6) to include Expansion Area No. 1