Resolution No. 3644 (City of South Bend ED Area Lincoln & Kennedy Park) - Signed

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6 3. The public health and welfare will be benefitted by implementation of the Plan and construction of associated projects; 4. The accomplishment of the Plan, as a component of the River West Plan for the Area will be a public utility and benefit, measured by the attraction and retention of permanent job, an increase in the property tax base, improved diversity of the tax base, or other similar benefit; and 5. The Plan, as a component of the River West Plan, conforms to the comprehensive plan for the City and is designed to enhance the economic well-being of the City. Acquisition List This Plan does not currently contemplate any property acquisition. If the Redevelopment Commission were to acquire real property, it shall follow the procedures set forth in state law (I.C. 36-7-14-19 or I.C. 36-7-14-19.5). Because the Commission does not intend to acquire property for the potential projects, the Commission will not incur any costs of acquisition. However, the Commission will incur certain costs in connection with the development of potential projects. The estimated cost of the potential projects is not expected to exceed an amount that can be raised based on the amount of tax increment revenues generated in the Allocation Area. Disposal of Property If the Redevelopment Commission were to acquire real property, the Commission may dispose of it by sale or lease to the public according to state law (I.C. 36-7-14-22). Procedure for Amendment of the Plan The Lincoln and Kennedy Park Residential Housing Development Program Plan may be amended by the following procedures described in state law (I.C. 36-7-14-17.5) which currently has requirements for Council approval and the opportunity public input and comment. Any change affecting any property or contractual right may be made only in accordance with applicable state and local laws.