No. 0633 designating Monroe-Sample Dev. Area, declaring the Monroe-Sample Dev. Area to be blighted, approving a development plan/conditions under which relocation pmts. will be made

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811-1347 0 (b) the proceeds of such taxes in excess of those described in clause (a) above shall be allocated to the Department, and when collected shall be paid into a special fund hereinafter created. 7. The proceeds of such taxes distributed to the Depart- ment pursuant to Paragraph 9(b) hereof shall be deposited in a special fund designated "South Bend Department of Redevelop- ment Monroe Sample Development Allocation Area (South Bend Allocation Area No. 3) Special Fund" ( "Special Fund ") be used only asprovided in the Act, and more particula rly d rly(a)y to pay principal of and interest on any obligations issued by the Department for the purpose of financing or refinancing the redevelopment of South Bend Allocation Area No. 3 or (b) to re- imburse the City for expenditures made by it for public improve- ments in South Bend Allocation Area No. 3, or for rentals paid by it for a building or off - street parking facility in South Bend Allocation Area No. 3 under any lease entered into pursuant to Indiana Code 18- 5 -3.3. When money in the Special Fund shall be sufficient to pay when due all principal of and interest on obligations payable therefrom, any excess over such amount shall be paid to the respective taxing units entitled thereto in the manner provided in Paragraph 6(a) hereof, and thereafter the allocation and distribution provided for in Paragraph 6 hereof shall be discontinued, and taxes on real property in South Bend Allocation Area No. 3 shall thereafter be distributed without regard to the provisions of Section 39.1 of the Act. 8. That it is hereby found and determined that the objectives of the Development Plan cannot be achieved by regulatory process or by the ordinary operations of private enterprise with- out resort to the provisions of the Act. 9. That the Development Plan is hereby in all respects approved and the Secretary is hereby directed to file a certified copy of said Development Plan with the minutes of this meeting and to have a certified copy of said Plan recorded in the Office of the Recorder of St. Joseph County, Indiana. 10. That the United States of America be, and hereby is assured of full compliance by the City of South Bend Department of Redevelopment with regulations of the Department of Housing and Urban Development effectuating Title VI of the Civil Rights Act of 1964, as amended. ` Adopted at the Regular Meeting of the South Ben Redevelopment Commission held on February 2, 1981, at the office of the Commission, 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana CITY OF SOUTH BEND, INDIANA DEPARTMENT OF REDEVELOPMENT r. Jay edevel Attest: robe J. Ci.ra, Assistant ecretary Redevelopment Commission See attached Page 4 for readoption. -3- m� , Pre`sgdent en Commission