No. 0818 designating the WWCDA, declaring the WWCDA to be blighted, approving a development plan and conditions under which relocation payments will be made, and establishing an allocation area for purposes of tax incremental financing

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2. The Plan, attached hereto and incorporated herein, is hereby adopted as the plan for the redevelopment of the Area. 3. The previously prepared maps and plats showing the boundaries of the Area, the location of the various parcels of property, streets, alleys, and other features affecting the acquisition, clearance, replatting, replanning, rezoning, or redevelopment of the Area, indicating any parcels of property to be excluded from acquisition, and indicating the parts of the Area to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under the Plan are hereby approved. 4. The previously prepared list indicating that no parcels of property within the Area to be acquired at the present time is hereby approved. 5. The estimated cost of acquiring property in the Area, as determined by taking the average of two separate appraisals made by independent appraisers, is $0. 6. In determining the location and extent of the Area proposed to be acquired for redevelopment, the Commission has given consideration to transitional and permanent provisions for adequate housing for the residents of the Area who will be displaced by this redevelopment project, and the Commission hereby adopts the South Bend Central Relocation Policy as the policy by which the Commission will be guided in providing for such persons displaced by action of the Commission. 7. Based on evidence now submitted to the Commission, the Commission finds and determines that there is a substantial presence in the Area of excessive vacant land on which structures were located, abandoned or vacant buildings, old buildings, excessive vacancies, substandard structures, and delinquency in payment of real property taxes. 8. The Area is blighted and constitutes a menace to the social and economic interest of the City of South Bend and its inhabitants, and it will be of public utility and benefit to acquire land within such area and to redevelop it under the Act. 9. The Area consists of approximately two hundred twenty (220) acres and is contiguous and compact. 10. To the extent that qualified redevelopment bonds under Section 144(c) of the Internal Revenue Code of 1986 are issued to pay for all or part of the redevelopment within the Area, the use of the proceeds of such bond issue shall be limited as required by Section 144(c). 11. The assessed value of real property in the Area when added to the assessed value of the real property located in all redevelopment areas does not exceed twenty percent (20 %) of the total assessed value of the real property located in the City of South Bend. 12. The Commission finds that the objectives of the Plan cannot be achieved through more extensive rehabilitation of the Area. 13. The Plan is in all respects approved, and the Secretary is directed to file a certified copy of the Plan with the minutes of this meeting and to record a certified copy of the Plan in the office of the Recorder of St. Joseph County, Indiana. 14. For purposes of the allocation provisions of the Act, as authorized by I.C. 36- 7- 14 -39, the Area is hereby designated as West Washington- Chapin Allocation Area (South Bend Allocation Area No. 7), more particularly described as follows: 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: - 4 -