Bill No. 22-19 Development Plan for the River East Deveploment Area

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4�ouTx FFiledClerk's Office PEACE ? n 2022 �s65A JONES ,SOUTH REND, IN CITY OF SOUTHBEND COMMUNITY INVESTMENT Santiago Garces, Executive Director April 18, 2022 Sharon McBride President, South Bend Common Council 4"Floor, County-City Building South Bend, IN 46601 Re: Resolution to Approve of the Written Order of the South Bend Plan Commission Regarding the Proposed Tax Increment Finance("TIF")Area Realigmnent Dear President McBride: Enclosed for consideration by the Common Council is a resolution which approves of the written order of the South Bend Plan Commission(the"SBPC") evidenced by a resolution adopted by the SBPC on April 18, 2022(the"SBPC Resolution"), in connection with the proposed realignment of the River East TIF Area located in the City of South Bend(the"City"). The SBPC Resolution approved of action taken by the South Bend Redevelopment Commission(the "Redevelopment Commission")on April 14, 2022,to adopt declaratory resolutions for the purpose of. (i) (i)designating and declaring certain areas within the City to be redevelopment areas and an allocation area for purposes of tax increment financing to expand the existing River East Development Area(the"River East Area"); (ii) adding certain parcels of property to the River East Area property acquisition list; and(iii)approving an amended and restated development plan for the River East Area(the"River East Plan"); and The purpose of the proposed TIF realignment is to more accurately reflect the boundaries of the redevelopment and economic development areas in the City in light of the ongoing development plans for the City. Moreover,the realignment serves the inter-related goals of fiscal stewardship,economic development, and neighborhood revitalization. Through this action the City will be able to address infrastructure, grow community assets,and aid development projects to support a high quality of life while also continuing a proactive approach to job creation and new investment. This resolution is part of the approval process required under Indiana Code 36-7-14,which approval process would conclude with consideration by the Redevelopment Commission of confirming resolutions following a public hearing after approving action by the Common Council on the attached resolution. EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov