No. 0801 redeclaring the Studebaker Corridor Development Area to be blighted for the purposes of compliance with the Tax Reform Act of 1986

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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, Resolution No. 762 and the Studebaker Corridor Development Area Development Plan (Development Plan) adopted by Declaratory Resolution No. 762 on January 10, 1985, was confirmed by Resolution No. 764 adopted on February 14, 1987; and WHEREAS, the Department has once again conducted surveys and investigations and thoroughly studied the Area; and WHEREAS, the Commission has previously caused to be prepared maps and plats of the Area which show 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 the parcels of the property to be excluded from acquisition and the parts of the Area that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under Development Plan. WHEREAS, the Tax Reform Act of 1986, includes certain requirements which must be met in order to qualify interest on obligations of redevelopment districts for exemption from federal income taxation; and WHEREAS, the Commission finds it desirable and necessary to further amend the Declaratory Resolution No. 762 in order to redesignate the Area as blighted in order to conform with requirements of the Tax Reform Act of 1986. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT, as follows: 1. 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. 2. The Area continues to be blighted and to constitute 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. 3. The Area consists of two hundred twenty (220) acres and is contiguous and compact.