RM 04-24-87 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meting - April 24, 1987 6. NEW BUSINESS (Cont.) j. Commission apE Resolution No. Studebaker Cox be bli hted as Ac of 1986. oval requested for 801 redeclaring the idor Development Area to defined by the Tax Reform Ms. Schwartz explained that the de artment has conducted surveys and in estigations and studied the indicated ar a; has prepared maps and plats of the ar a dealing with the statuatory re uirements 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 from which the Commission finds blight: that there is a substantial presence of excessive vacant land, abandoned or vacant buildings, substandard structures, an6 delinquency in payment of real pr perty taxes. The Commission is finding that the Studebaker Corridor Development Area is 220 acres and is contiguous and compact. If the Commission should issue Redevelopment Bonds in the future, the proceeds should not be such that they would violate a particular section of the act cited in the Resolution. The overall assessed value of real property in the area added to the assessed value of all the redevelopment areas does not exceed 200 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 and determinations made regarding the area. Mrs. Kolata noted that the staff reviewed the evidence of blight previously presented to the Commission on February 14, 1986, and has found that the blighting conditions then present still exist in the Studebaker Corridor -12-