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South Bend <br />Regular Me <br />elopment Commission <br />- February 23, 1990 <br />6. NEW BUSINESS (Cont.) <br />f. continued... <br />place. Resolution No. 919: 1) <br />des gnates the Airport Economic <br />Development Area; 2) adopts the <br />Development Plan, which is attached to <br />the resolution; 3) declares our intent to <br />do E cme public works improvements such as <br />roacs, streets, and perhaps, utilities as <br />are available to allow for <br />devE lcpment of the land surrounding the <br />aiml ort for industrial, connnercial and <br />office use. <br />Mrs Kolata noted that the resolution <br />es lishes this as a tax increment <br />finance area. The Plan explains some of <br />the amenities of the area and why this is <br />such an attractive location for <br />development: the airport, the toll road, <br />the U.S. 31 bypass, good soils, and some <br />inf tructure already in place. <br />Mrs Kolata explained that our goal is to <br />stimulate the development of the land, to <br />in ease the City's tax base, to provide <br />for new jobs, to provide space for <br />ion of the existing industrial <br />par . Mrs. Kolata noted that the <br />Airlort Industrial Parks and the Toll <br />Roa Industrial Park are the area's <br />l=est employers. Over 4700 people work <br />in those areas. We would like to use tax <br />inc#ement finance to promote continued <br />and expansion in that area. <br />Mrs. Kolata noted that the resolution <br />will. need to go before the Area Plan <br />CcamIssion at its March meeting, to the <br />Ccnmion Council in late March, and then to <br />the Commission again for a confirming <br />resolution. <br />Mrs. Kolata noted that there is nothing <br />on the acquisition list at this time. <br />Kolata noted that this resolution <br />rescinds the Brick Olive Economic <br />Lopment Area, which the Ccmmission <br />-25- <br />