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South Bend qedevelopment Commission <br />Regular t1ee i ng December 18, 1981 <br />7. NEW BUSINESS (continued) <br />b. continued... <br />Ms. Derbeck commented that the industrial area in <br />Mon oe- Sample is moving remarkably fast. <br />Mr. Nimtz agreed and stated the Commission didn't <br />kno it was going to go this fast. <br />Mr. Ruethe explained that he liked the area because <br />of its cost and its central location. <br />c. Com ission approval of Resolution No. 650 declaring <br />the area constituting the Rum Village Industrial Park <br />to be blighted and approving a Redevelopment Plan. <br />Mr. t9cMahon explained that this resolution is the <br />first step in declaring the area around the ethanol <br />site a redevelopment area for purposes of using tax <br />incremental financing (TIF). There are a number of <br />public improvements necessary to prepare for the <br />ethanol plant and tax incremental financing will be <br />used for those improvements. The redevelopment area <br />is larger than the ethanol site in order to accom- <br />modate future industrial uses. The area is approxi- <br />mately 412 acres in size and is located entirely with- <br />in the city limits. The only land to be acquired by <br />Redevelopment will be the 76 acres comprising the <br />ethanol site. Public acquisition is necessary in <br />order to use TIF. If this resolution is approved, <br />it will be sent to the Area Plan Commission and <br />Comm n Council for approval before returning to <br />Rede elopment for a public hearing and confirming <br />reso ution. <br />Upon motion made by Hr. Robinson, seconded by Mr. <br />Dona dson and unanimously carried, Resolution No. <br />650 as approved. <br />d. Commission approval re uested for extension of Agree- <br />ment With Battelle Columbus Laboratories for the <br />preparation of an Economic Develo ment Plan for South <br />Ben <br />Mr. <br />agr( <br />St. <br />McMahon explained that an extension to the Battelle <br />�ment that we have for their economic study for the <br />Joseph County area was necessary. There is no <br />6 <br />COMMISSION APPROVED RESOLU- <br />TION NO. 650 DECLARING AREA <br />CONSTITUTING RUM VILLAGE <br />INDUSTRIAL PARK TO BE <br />BLIGHTED AND APPROVING A <br />REDEVELOPMENT PLAN <br />