No. 0737 designating SBCDA, declaring SBCDA to be blighted, approving development plan/conditions which relocation pmts. will be made, establishing allocation area for purposes of TIF

Home Browse Search

'4509691 collected on property in the East Bank Development Allocation Area (South Bend Allocation Area No. 2) and base assessment date for such Allocation Area, being 1980 and March 1, 1980, respectively; and WHEREAS, Resolution Nos. 690 and 694 which established the Central Downtown Urban Renewal Allocation Area No. 1 (Allocation Area No. 1), Parcel Two, provided that the allocation provision for property taxes levied in 1983 and thereafter applied to taxes on both real property imposed under IC 6 -1.1 and on depreciable personal property that has a useful life in excess of eight years, as determined by the state board of tax commissioners under IC 6 -1.1; and WHEREAS, the Commission now determines that the allocation provision in Resolution No. 690 should apply only to taxes on real property imposed under IC 6 -1.1 and should not apply to taxes on depreciable personal property that has a useful life in excess of eight years as determined by state board of tax commissioners under IC 6 -1.1. NOW, THERFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, as follows: 1. The Expansion Area No. 1, described in the eighth Whereas clause above, is blighted and constitutes a menace to the social and economic interest of South Bend and its inhabitants, and it will be of public utility and benefit to acquire the area and redevelop it under the Act. 2. The Expansion Area No. 2, described in the tenth Whereas clause above, is blighted and constitutes a menace to the social and economic interest of South Bend and its inhabitants, and it will be of public utility and benefit to acquire the area and redevelop it under the Act. 3. The Expansion Area No. 3, described in the twelfth Whereas clause above, is blighted and constitutes a menace to the social and economic interest of South Bend and its inhabitants, and it will be of public utility and benefit to acquire the area and redevelop it under the Act. 4. The Expansion Area No. 4, described in the fourteenth Whereas clause above, is blighted and constitutes a menace to the -11-