No. 0919 designating/declaring the AEDA, approving an economic development plan and establishing an allocation area for purposes of TIF

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1 ' redevelopment of the Area, indicating the parcels of property to be excluded from acquisition and the parts of the Area acquired, if any, that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under the plan for the economic development of the Area as adopted herein; and WHEREAS, there was presented to this meeting of the Commission for its consideration and approval, a copy of the Economic Development Plan for the Area, which plan consists of Airport Economic Development Area Development Plan, (20) pages, with attachments, and is attached hereto as Exhibit "A" and is entitled: Economic Development Plan Airport Economic Development Area South Bend, Indiana and is hereafter referred to as the Economic Development Plan; and WHEREAS, the Economic Redevelopment Plan for the Area promotes significant opportunities for the gainful employment of the citizens of the City, attracts major new business enterprises to the City, retains or expands significant business enterprises existing in the boundaries of the City and meets the other purposes of Section 2.5, 41 and 43 of the Act; and WHEREAS, the public health and welfare will be benefited by the acquisition and redevelopment of the Area under the provisions of the Act and the accomplishment of the Economic Development Plan for the Area will be of public utility and benefit as measured by the attraction or retention of permanent jobs, an increase in the property tax base and improved diversity of the economic base; and WHEREAS, the Commission has caused to be prepared a list of the owners of the various parcels of property proposed to be acquired, if any, (the "Property Acquisition List ") and separate appraisals by at least two (2) independent appraisers of the fair value of the parcels of property proposed to be acquired, if any; and WHEREAS, the Property Acquisition List is a part of the Redevelopment Plan adopted herein; and WHEREAS, in determining the location and extent of the Area, the Commission has given consideration to transitional and permanent provisions for adequate housing for the residents of the Area, if any, who will be displaced by the redevelopment thereof; and WHEREAS, Section 43 of the Act establishes that an economic ro development area may be an allocation area for the purposes of distribution and allocation of property taxes; and WHEREAS, Section 39 of the Act has been created to permit the creation of allocation areas within an economic development area to 0