No. 0888 authorizing reimbursement to the COSB for expenditures made within the Studebaker Corridor Development Area

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A RESOLUTION NO. 888 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING REIMBURSEMENT `IO THE CITY OF SOUTH BEND FOR EXPENDITURES MADE WITHIN THE STUDEBAKER CORRIDOR DEVELOPMENT AREA WHEREAS, the South Bend Redevelopment Commission (Commission), by Resolution No. 762 on January 10, 1986, confirmed by Resolution No. 764 on February 14, 1986, declared the following area to be a blighted area, pursuant to IC 36- 7 -14 -1, et seq. (the Act): A parcel of land being a part of the City of South Bend, Portage Township, St. Joseph County, Indiana, and being more particularly described as follows: Beginning at the intersection of the centerline of Prairie Ave. and the northerly right -of -way line of the New York Central Railroad; thence, southeasterly along said line to the southeast corner of Lot #20 in the recorded plat of "Martin & Tutt's Addition to the City of South Bend "; as recorded in the records of said county; thence, southeasterly to the southwest corner of Lot #12 in said plat; thence, east along the line between Lots 12 & 13 in said plat to the centerline of a north -south alley lying between Main and Michigan Streets; thence, south along said centerline to the centerline of the first alley north of Tutt Street; thence, east along said line 35.00 ft. to the centerline of the first alley west of Michigan Street; thence, south to the centerline of Sample Street; thence, west along said centerline to the alley lying between Michigan and Main Streets; thence, south along said line to the centerline of Indiana Street; thence, west along said line to the centerline of Franklin Street; thence, north aong said line to the centerline of the South Bend & St. Joseph Railroad; thence, west along said line to the centerline of Kendall Street; thence, north along said line to the centerline of Cotter Street; thence, west along said line to the centerline of Prairie Ave., thence northeasterly along said line to the centerline of Chapin Street as shown on the recorded plat of "Inter Belt Industrial Park" as recorded in Book 21 of plats on Page 1 in the records of said county; thence, north along said line to the centerline of Prairie Ave. as shown on said plat; thence, east along said line 363.11 ft. to a point of curvature; thence around a 286.48 ft. radius curve to the left an arc distance of 302.26 ft. to a point of tangent; thence, northeasterly along said centerline to the point of beginning. WHEREAS, the Commission, in Resolution No. 762 created and designated the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6) (the Allocation Area), the boundaries for which are identical with the boundaries of the Studebaker Corridor Development Area described in the first whereas clause above; and WHEREAS, in Resolution No. 762, the Commission directed that the proceeds of taxes be distributed to the Department pursuant to the allocation provisions of the Resolution, particularly paragraph 10(b), and be deposited in a special fund designated as Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6) Special Fund (Special Fund), proceeds from which may be used, among other purposes, "to reimburse the City for expenditures made by it for public improvements in South Bend Allocation Area No. 6;" and