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6 <br /> <br /> <br />Statutory Findings <br />The South Side Development Area Plan meets the following required findings by the <br />Redevelopment Commission pursuant to State Law (36-7-14-15(a)): <br /> <br />1. The South Side Development Area is an area in the territory under its jurisdiction and <br />is an area needing redevelopment; <br />2. The conditions described in state law (I.C. 36-7-1-3) cannot be corrected in the South <br />Side Development Area by regulatory processes or the ordinary operations of private <br />enterprise without resorting to state law (I.C. 36-7-14); <br />3. The public health and welfare will be benefitted by the amendment of the resolution <br />or plan, or both, for the South Side Development Area; and <br />4. The amendment is reasonable and appropriate when considered in relation to the <br />original resolution or plan for the South Side Development Area and the purposes of <br />state law (I.C. 36-7-14); and <br />5. The resolution or plan, with the proposed amendment, conforms to the <br />comprehensive plan for the City. <br /> <br />Acquisition of Real Property in the South Side Development Area <br />In connection with the accomplishment of this South Side Development Plan, the South Bend <br />Redevelopment Commission shall include all added parcels with the boundaries set forth above <br />on the acquisition list attached as Appendix C and shall follow the procedures set forth in state <br />law (I.C. 36-7-14-19 or I. C. 36-7-14-19.5). <br /> <br />Estimated Costs of Acquisition and Economic Development <br />to the South Side Development Area <br /> <br />Because the Commission does not intend to acquire property for the potential projects, the <br />Commission will not incur any costs of acquisition. However, the Commission will incur certain <br />costs in connection with the development of the potential projects. The estimated cost of the <br />potential projects is not expected to exceed an amount that can be raised based on the amount <br />of tax increment revenues generated in the Allocation Area. <br /> <br /> <br />Procedure for Amendment of the South Side Development Area Plan <br />The South Side Development Area Plan may be amended by resolution of the South Bend <br />Redevelopment Commission in accordance with state law (I.C. 36-7-14-17.5), which currently <br />has requirements for Council and public input and comment.. Any change affecting any property <br />or contractual right may be made only in accordance with applicable state and local laws.