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No. 0889 declaring an area in the COSB as an EDA and approving a development plan for said area
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No. 0889 declaring an area in the COSB as an EDA and approving a development plan for said area
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10/18/2012 3:20:15 PM
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3/5/2012 12:12:43 PM
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-3- <br />serving to protect and increase property values in the City <br />and the State. <br />2. The Plan for the Area cannot be achieved by <br />regulatory processes or by the ordinary operation of <br />private enterprise without resort to the powers allowed <br />under Sections 2.5, 41 and 43 of the Act because of lack of <br />local public improvements, existence of improvements or <br />conditions that lower the value of the land below that of <br />nearby land, multiple ownership of land, or other similar <br />conditions, including without limitation the cost of the <br />projects contemplated by the Plan and the necessity for <br />requiring the proper use of land so as to best serve the <br />interests of the City and its citizens. <br />3. The public health and welfare will be benefited <br />by accomplishment of the Plan for the Area. <br />4. The accomplishment of the Plan for the Area will <br />be a public utility and benefit as measured by the <br />attraction or retention of permanent jobs, an increase in <br />the property tax base, improved diversity of the economic <br />base and other similar public benefits. <br />5. The Plan for the Area conforms to other <br />development and redevelopment plans for the City. <br />6. The City of South Bend Department of <br />Redevelopment does not propose to acquire any land or <br />interests in land within the boundaries of the Area. <br />-3- <br />
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