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