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South Bend Redevelopment Commission <br />Regular Meeting - May 7, 1993 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />the base assessment back to $0 and we can <br />begin to accumulate tax increment. <br />Resolution No. 1152 contains a Findings of <br />Fact which states that the blighting conditions <br />which were originally found at the time the <br />West Washington - Chapin Development Area <br />still exist. The presence of blight necessitates <br />continued action by the Redevelopment <br />Commission. Tax increment revenues <br />generated within the area are necessary to <br />fund continued redevelopment. As of March <br />1, 1987, the original base assessment date, <br />the aggregate assessed value of the area was <br />$9,154,834. Following the reassessment and <br />homestead tax credits, the assessed value of <br />the area was reduced to $8,041,555. <br />Ms. Auburn opened the Public Hearing for <br />anyone who wished to speak. There was no <br />one who wished to speak regarding <br />Resolution No. 1152. Ms. Auburn closed the <br />Public Hearing for whatever action the <br />Commission desired to take. <br />b. Commission approval requested for <br />Resolution No. 1152. <br />Upon a motion by Mr. Sharp, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved Resolution No. 1152 <br />ratifying and confirming Resolution No. 1138 <br />changing the base assessment date for <br />property in the West Washington - Chapin <br />Development Area. <br />-5- <br />PUBLIC HEARING ON RESOLUTION NO. <br />1152 RATIFYING AND CONFIRMING <br />RESOLUTION NO. 1138 CHANGING THE <br />BASE ASSESSMENT DATE FOR <br />PROPERTY IN THE WEST WASHINGTON - <br />CHAPIN DEVELOPMENT AREA <br />COMMISSION APPROVED RESOLUTION <br />NO. 1152, RATIFYING AND CONFIRMING <br />RESOLUTION NO. 1138, CHANGING THE <br />BASE ASSESSMENT DATE FOR <br />PROPERTY IN THE WEST WASHINGTON - <br />CHAPIN DEVELOPMENT AREA <br />