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South Bend Redevelopment Commission <br />Regular Mee ing - February 14, 1986 <br />6. NEW BUSINESS (Cont.) <br />a. Con inued... <br />2. Over 60% of the total building floor area in <br />the north section (i.e., north of Sample <br />Street) of the Studebaker Plant Complex is <br />vacant or underutilized. <br />3. The condition of buildings in the Studebaker <br />Plant Complex is deteriorating. Almost half <br />(46 %) of these buildings have an exterior <br />condition that is "poor" or "very poor" while <br />about 30% are classified as being in "poor" or <br />"very poor" overall condition. <br />4. Over one -third (33.9 %) of the land and <br />buildings in the areas (Sub -Areas A and B) <br />adjacent to the main plant complex are vacant <br />or underutilized. This is especially <br />prevalent in Sub Area A (i.e., Franklin and <br />Lafayette Streets) where 43% of the land and <br />buildings are vacant or underutilized. <br />5. Over 28% of all buildings in the adjacent area <br />are classified as being in "poor" or "very <br />poor" condition. The majority of these <br />deteriorating structures are residential. <br />The Chair concluded the public hearing. <br />Upon a motion made by Mr. Donoho, seconded by <br />Mr. Piasecki and unanimously carried, the <br />CormLission approved the Finding of Facts as <br />presented on Exhibit "A" of Resolution No. <br />764. <br />Upon a motion made by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />CormLission approved Resolution No. 764 <br />ratifying and confirming Resolution No. 762, <br />designating the Studebaker Corridor <br />Development Area, declaring the Studebaker <br />Cor idor Development Area to be blighted, <br />app owing a development plan and conditions <br />under which relocation payments will be made, <br />and establishing an allocation area for <br />purooses of tax incremental financing. <br />b. Comdssion approval rectuested for Joint <br />of the South Bend Public <br />tion Corooration. <br />as <br />COMMISSION APPROVED THE <br />FINDING OF FACTS AS PRE- <br />SENTED ON EXHIBIT "A" <br />OF RESOLUTION NO. 764 <br />COMMISSION APPROVED RESO- <br />LUTION NO. 764 RATIFYING <br />AND CONFIRMING RESOLUTION <br />NO. 762 DESIGNATING THE <br />STUDEBAKER CORRIDOR DEVEL- <br />OPMENT AREA, DECLARING THE <br />STUDEBAKER DEVELOPMENT AREA <br />TO BE BLIGHTED, APPROVING <br />A DEVELOPMENT PLAN AND <br />CONDITIONS UNDER WHICH <br />RELOCATION PAYMENTS WILL <br />BE MADE, AND ESTABLISHING <br />AN ALLOCATION AREA FOR <br />PURPOSES OF TAX INCREMENTAL <br />FINANCING <br />