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No. 0764 ratifying/confirming Res. No. 762, designating/declaring Studebaker Corridor dev. area to be blighted, approving a dev. plan/TIF
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No. 0764 ratifying/confirming Res. No. 762, designating/declaring Studebaker Corridor dev. area to be blighted, approving a dev. plan/TIF
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6i h4712 <br />EXHIBIT "A" TO <br />RESOLUTION NO. 764 <br />STUDEBAKER CORRIDOR DEVELOPMENT AREA <br />FINDING OF FACTS <br />February 14, 1986 <br />The South Bend Redevelopment Commission has conducted a study <br />of the Studebaker Corridor Development Area ( "Area "). Based upon <br />that study and following the other procedures required by I.C. <br />36 -7 -14 (the "Act ") including public hearing conducted this day, <br />pursuant to I.C. 36- 7 -14 -17 and after notice published as requested <br />thereby, the Redevelopment Commission hereby finds that the Area has <br />become blighted to such an extent that such conditions cannot be <br />corrected by the regulatory process or by ordinary operations of <br />private enterprise without resort to the provisions of the Act and <br />that the public health and welfare will be benefitted by the <br />acquisition and redevelopment of the area under the provision of the <br />Act. This finding is based on the following facts found by the <br />Redevelopment Commission in its study and hearing: <br />1. Almost half (48.6 %) of the total building floor area in <br />the Studebaker Plant Complex is vacant or <br />underutilized. <br />2. Over 60% of the total building floor area in the north <br />section (i.e., north of Sample Street) of the <br />Studebaker Plant Complex is vacant or underutilized. <br />3. The condition of buildings in the Studebaker Plant <br />Complex is deteriorating. Almost half (46 %) of these <br />buildings have an exterior condition that is "poor" or <br />"very poor" while about 30% are classified as being in <br />"poor" or "very poor" overall condition. <br />4. Over one -third (33.9 %) of the land and buildings in the <br />areas (Sub -Areas A and B) adjacent to the main plant <br />complex are vacant or underutilized. This is <br />especially prevalent in Sub -Area A (i.e., Franklin and <br />Lafayette Streets) where 43% of the land and buildings <br />are vacant or underutilized. <br />5. Over 28% of all buildings in the adjacent area are <br />classified as being in "poor" or "very poor" condition. <br />The majority of these deteriorating structures are <br />residential. <br />12 /e <br />
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