Expanding the Boundaries of South Bend Central Development Area, Expanding the Allocation Area for Purposes of Tax Increment Financing

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regulatory processes or by the ordinary operation of private enterprise without resort to the Act and that the public health and welfare will continue to be benefitted by the continued acquisition and redevelopment of the Area under the Act. Section 4. The Common Council hereby finds that the Area is a menace to the social and economic interest of the City and its inhabitants, and it is of public utility and benefit to acquire and redevelop the Area under the Act. Section 5. The Common Council hereby finds and determines that the objectives of the Development Plan cannot be achieved through more extensive rehabilitation of the Area. Section 6. The Common Council hereby finds and determines that the Area consists of four hundred forty -nine (449) acres and is contiguous and compact. Section 7. To the extent that qualified redevelopment bonds under Section 144(c) of the Internal Revenue Code of 1986 as amended are issued to pay for all or a part of the redevelopment within the area, the use of proceeds of such bond issues shall be limited as required by Section 144(c), and no use of the property within the area shall be allowed which use would be prohibited by Section 144(c). Section 8. The Common Council hereby finds and determines that the Commission Resolution No. 834 and the Development Plan are in all respects approved and adopted and directs the City Clerk to file certified copies thereof with the minutes of this meeting. Section 9. The Common Council reapproves and reconfirms all other findings, determinations, and conclusions in the Commission's Resolution No. 737, 745, 751, 795 and 800 as approved by previous resolutions of the Common Council, which include but are not limited to the approval of the designation and establishment of the South Bend Central Allocation Area (South Bend Allocation Area No. 1A), pursuant to Section 39 of the Act and the Common Council approves and confirms the expansion in Commission Resolution No. 834 of such allocation area to be coterminus with the Area. Section 10. The Common Council hereby assures the United States of America of full compliance by the City with the provisions of Title VI of the Civil Rights Act of 1964, as amended, and the regulations of the Department of Housing and Urban Development effectuating that title. Section 11. This resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. tuber of the South Bend Council Filed In Clerk's Office ?4ts' EN115D 3 -a8' -8d? MAR 2 31988 NOT APPROVED ADOPTED 3-aa -Fs IRENE GAMMON -4- CITY CLERK, SO. BEND, 110