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No. 0694 ratifying/confirming Res. No. 690, redeclaring Central Downtown Urban Renewal Area to be blighted, expanding boundaries of area, establishing allocation area for purposes of TIF, reapproving the urban renewal plan and all amendments thereto
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No. 0694 ratifying/confirming Res. No. 690, redeclaring Central Downtown Urban Renewal Area to be blighted, expanding boundaries of area, establishing allocation area for purposes of TIF, reapproving the urban renewal plan and all amendments thereto
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849 ®914 <br />FINDING OF FACTS <br />CENTRAL DOWNTOWN URBAN RENEWAL AREA <br />January 13, 1984 <br />The South Bend Redevelopment Commission has conducted a <br />study of the Central Downtown Urban Renewal Area ( "Area "). Based <br />upon that study and following the other procedures required by <br />I.C. 36 -7 -14 (the "Act ") including public hearing, the <br />Redevelopment Commission hereby finds that the Area has become <br />blighted to such an extent that such conditions cannot be <br />corrected by the regulatory process or by ordinary operations of <br />private enterpise 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 provisions of <br />the Act. This finding is based on the following information: <br />1. The area to be added to the Central Downtown Urban Renewal <br />Area contains one building. That building has a total of <br />107,294 square feet, which includes 36,016 square feet of <br />parking space. There is 71,278 square feet of leaseable <br />space of which only 3,525 square feet is leased. This <br />represents 4.9% of space occupied at this time and 95.1% <br />vacant. <br />2. Over the years the building has deteriorated and is in need <br />of major interior and exterior restoration. <br />3. The above conditions add to and thus serve to intensify the <br />blighted conditions of the balance of the Central Downtown <br />Urban Renewal Area, and blighted conditions continue to be <br />present in significant amount in the Area as a whole. <br />The South Bend Redevelopment Commission finds that it will <br />be of public benefit to the public health and welfare to <br />redevelop the Central Downtown Urban Renewal Area and to extend <br />the public benefit available through the provisions of the Act to <br />this additional area as part of the Central Downtown Urban <br />Renewal Area. <br />
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