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South Bend Redevelopment Commission <br />-7:egular Meeting - February 4, 1994 <br />6. NEW BUSINESS (Cont.) <br />c. continued... <br />6. Unstable soil conditions found in some <br />portions of the Expansion Area No. 1 are <br />a deterrent to private business <br />development. <br />D. In the entire Area: <br />1. Of the approximately 2,400 acres <br />included in the Area, 592.8 acres, or <br />24.7 % of the 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 <br />in the Rum Village Industrial Park and <br />portions of Expansion Area No. 1; <br />obsolete industrial facilities in the <br />Studebaker Corridor and Expansion Area <br />No. 1; poor internal circulation in <br />portions of Rum Village, Studebaker <br />Corridor, and Expansion Area No. 1; <br />potential environmental contamination in <br />the 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 />be met for designation as an Urban <br />Enterprise Zone. <br />4. In addition to the fact that almost 25 % of <br />the 2,400 acres of land within the entire <br />Area is vacant, the findings within <br />Paragraphs A through D inclusive, above, <br />C�W, -21- <br />