No. 0834 expanding the boundaries of the SBRDA, redeclaring the area as expanded to be blighted, for purposes of TIF, and amending the plan and reapproving the plan as amended

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the north line of vacated Monroe Street to the Point of Beginning. This tract contains 1.9 acres, more or less. WHEREAS, a list of the owners of the parcels of property in the Area proposed to be acquired has been prepared, and separate ap- praisals by at least two (2) independent appraisers of the fair value of the parcels of property in the Area proposed to be acquired have been prepared; and WHEREAS, the Commission desires to further amend Resolution No. 737 by expanding the South Bend Central Development Area to include Expansion Area No. 1 (the South Bend Central Development Area and Expansion Area No. 1 are referred to hereafter as the "Area ") so as to facilitate and enhance the replanning, redevelopment and dispo- sition of property within the Area; and WHEREAS, upon surveys, investigations and studies being made, the Commission finds that the Area is blighted to an extent that such blighting conditions cannot be corrected by regulatory processes or by the ordinary operations of private enterprise without resort to the provisions of the Act, and that the public health and welfare would be benefited by the acquisition and continued redevelopment of such Area under the provisions of the Act; and AW WHEREAS, Section 39 of the Act permits the creation of an allo- cation area within a blighted area to provide for the allocation and distribution, as provided in 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 pre- viously established the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) and now desires to expand the boundaries of the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) to include Expansion Area No. 1 (South Bend Central Allocation Area (South Bend Allocation Area No. 1A) as expanded is referred to hereafter as the "Allocation Area "); and WHEREAS, there was presented to this meeting of the Commission for its consideration and approval an amendment to the Development Plan setting out the boundaries of the Area and further identifying the types of redevelopment projects and purposes to be undertaken in the Area (the Development Plan as amended is hereinafter referred to as the "Plan "), which Plan is entitled: "South Bend Central Development Area DEVELOPMENT PLAN SOUTH BEND, INDIANA" and consists of a typewritten document; and WHEREAS, the Plan has been reviewed and considered at the meeting; and -4-