Laserfiche WebLink
BILL NO. <br />ORDINANCE NO. <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH <br />BEND, INDIANA, APPROVING A RESOLUTION OF THE SOUTH BEND <br />ECONOMIC DEVELOPMENT COMMISSION AND ESTABLISHING AN <br />ECONOMIC DEVELOPMENT TARGET AREA <br />(River Race Townhomes) <br />STATEMENT OF PURPOSE AND INTENT <br />Pursuant to the authority granted by Indiana Code Section 36 -7 -12 et seq. and in <br />furtherance of economic development within the City of South Bend, Indiana (the <br />"City "), the South Bend Economic Development Commission (the "Commission "), has <br />investigated, studied and surveyed the need for additional job opportunities within the <br />City and has made recommendations concerning economic development possibilities <br />within the City. Based on its investigatory action, studies and surveys, the Commission <br />has determined that it is necessary to designate a specific geographic area within the City <br />as an Economic Development Target Area ( "BDTA ") because such area has become <br />undesirable or impossible for normal development and occupancy due to lack of <br />development, cessation of growth, deterioration of improvements or character of <br />occupancy, age, obsolescence, substandard buildings or other factors that have impaired <br />values or prevented a normal development of property or use of property. <br />The property known as the northwest corner of Niles Avenue and Jefferson Blvd., <br />South Bend, Indiana, (the "Property ") has been vacant for many years, with many <br />investors having reviewed the Property for investment and development purposes, and <br />each having dismissed the Property as not appropriate for investment and development. <br />Based upon all of the above facts, the Commission at a regular meeting held on <br />June 20, 2014, approved Resolution No. 2014 - 4, a true copy of which is attached hereto <br />and incorporated herein as Exhibit "A." The Resolution designates the Property, located <br />in South Bend, Indiana, as an Economic Development Target Area, which Resolution the <br />South Bend Common Council, as fiscal body for the City, now desires to approve by <br />enacting this ordinance pursuant to Ind. Code Section 6- 1.1- 12.1 -7(a). <br />