19-35 Resolution to Approve of the Written Order of the Area Plan Commission Regarding the Proposed Tax Increment Finance (TIF) Area Realignment

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CITY OF SOUTH BEND COMMUNITY INVESTMENT to be redevelopment areas and allocation areas for purposes of tax increment financing to expand the existing South Side Area; (iii) adding certain parcels of property to the South Side Area property acquisition list; (iv)approved the transfer of certain parcels of property previously included on the River West Area property acquisition list to the South Side Area acquisition list; and(v) approving an amended and restated plan for the South Side Area (the"South Side Plan"). The purpose of the proposed TIF realignment is to more accurately reflect the boundaries of the redevelopment and economic development areas in the City in light of the ongoing development plans for the City. Moreover,the realignment serves the inter-related goals of fiscal stewardship, economic development,and neighborhood revitalization.Through this action the City will be able to address infrastructure, grow community assets, and aid development projects to support a high quality of life while also continuing a proactive approach to job creation and new investment. This resolution is part of the approval process required under Indiana Code 36-7-14, which approval process would conclude with consideration by the Redevelopment Commission of confirming resolutions following a public hearing after approving action by the Common Council on the attached resolution. Tim Corcoran from the Department of Community Investment will be presenting this item to the Council during their May 13th meeting. Thank you for your consideration of this resolution. Sincerely, 1i Tim Corcoran Enclosure Page 2