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South Bend Redevelopment Commission <br />Regular Meeting - May 21, 1993 <br />6 NEW BUSINESS (Cont.) <br />a. continued... <br />times greater than the city -wide <br />percentage. With only 8.3% of the City's <br />housing supply, the census tracts <br />comprising Expansion Area No. 1 contain <br />about one -third of the City's substandard <br />structures. <br />6. Unstable soil conditions found in some <br />portions of Expansion Area No. I are a <br />deterrent to private business development. <br />D. In the entire Area: <br />1. Of the approximately 2400 acres included <br />in the Area, 592.8 acres, or 24.7% of the <br />total land area is vacant. <br />2. Collectively, the Area shares several <br />negative physical factors that hinder <br />private redevelopment. These factors <br />include: unsuitable soil for development in <br />the Rum Village Industrial Park and <br />portions of Expansion Area No. 1; obsolete <br />industrial facilities in the Studebaker <br />Corridor and Expansion Area No. 1; poor <br />internal circulation in portions of Rum <br />Village, Studebaker Corridor, and <br />Expansion Area No. 1; potential <br />environmental contamination in the <br />Studebaker Corridor and portions of <br />Expansion Area No. 1. <br />3. The majority of the area is within South <br />Bend's Urban Enterprise Zone. A <br />requirement of distressed conditions must <br />-15- <br />