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\ <br />South Bend Redevelopment Commission <br />Regular Meeting - November 21, 1997 <br />6. NEW BUSINESS (CONT.) <br />a. continued.... <br />Increment Financing. <br />There are two additional provisions in <br />Resolution No. 1545. First, the Tax <br />Allocation Provision for Expansion Area <br />No. 5 will expire on December 31, 2026. <br />This Provision also amends Resolution <br />No. 1349 to provide for an expiration date <br />of December 31, 2024, for the Tax <br />Allocation Provision for Expansion Area <br />No. 4. <br />The proposed use for the property is <br />Industrial. The property that was recently <br />annexed into the city includes the <br />Ameriplex Industrial Park, Wells <br />Electronics and a piece of property that is <br />located between the Ameriplex property <br />and Wells Electronics. <br />Mr. Hunt opened the Public Hearing for <br />anyone who wished to speak regarding <br />Resolution No. 1545. There was no one <br />who wished to speak regarding Resolution <br />No. 1545. Mr. Hunt closed the Public <br />Hearing for whatever action the <br />Commission wished to take. <br />Ms. Schwartz asked to be shown which <br />parcels exactly, on the map, were annexed <br />into the city. James Riggs pointed out <br />these exact parcels on the map. <br />b. Commission approval requested for <br />Resolution No. 1545 making certain <br />technical corrections to Resolution <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\112197.MIN -5- <br />