No. 0889 declaring an area in the COSB as an EDA and approving a development plan for said area

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WHEREAS, Section 39 of the Act has been created and amended to permit the creation of "allocation areas" to provide for the allocation and distribution of property taxes for the purposes and in the manner provided in said section; and WHEREAS, Sections 41 and 43 of the Act have been created to permit the creation of "economic development areas" and to provide that all of the rights, powers, privileges and immunities that may be exercised by this Commission in a redevelopment area or urban renewal area may be exercised in an economic development area, subject to the conditions set forth in the Act; and WHEREAS, this Commission deems it advisable to apply the provisions of said Sections 39, 41, and 43 of the Act to the Plan and financing of the Plan. NOW, THEREFORE, BE IT RESOLVED by the City of South Bend Redevelopment Commission, governing body of the City of South Bend Department of Redevelopment as follows: 1. The Plan for the Area promotes significant opportunities for the gainful employment of its citizens, attracts a major new business enterprise to the City of South Bend, may result in the retention or expansion of significant business enterprises existing in the boundaries of the City, and meets other purposes of Sections 2.5, 41 Irw and 43 of the Act, including without limitation benefiting public health, safety and welfare, increasing the economic well being of the City and the State of Indiana, and -2-