RM 04-24-87 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Me ting - April 24, 1987 6. NEW BUSINESS (Cont.) i. Commission approval requested for Resolution No. 800 redeclaring the South Bend Central Development Area to be blighted for purposes of compliance with the Tax Reform Act of 1986. Ms. Schwartz explained that Resolution No. 800 and Resolution No. 801 both deal with matters required by the Tax Reform Act of 1986. They confirm that the de artment has conducted surveys and investigations and studied the indicated areas; has prepared maps and plats of the area dealing with the statuatory requirements prior to the declaration of an area; and, based on evidence which will be presented in writing to the Common Council, and prior to the confirming resolution of the Commission, the Commission makes a determination again that the area is blighted. The Tax Reform Act of 1986 has several factors fr m which the Commission finds blight: that there is a substantial presence of excessive vacant land, abandoned or vacant buildings, substandard structures, an delinquency in payment of real pr perty taxes. Ms. Schwartz stated that hey interpretation was that all of the categories should be considered together, requiring substantial presence of the conditions listed. The Commission is finding that the South Bend Central Development Area is 447 acres and is contiguous and compact. If the Commission sh uld issue Redevelopment Bonds in the future, the proceeds should not be such that they would violate a particular section of the actcited in the Resolution. The overall assessed value of real property in the area added to the as esed value of all the redevelopment areas does not exceed 20% of the total assessed value of real property in the city. The Commission is readopting the Development Plan as previously amended and reconfirming all the other findings an determinations made regarding the -10-