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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 />