No. 2456 expanding the boundaries of the Airport Economic Development Area, expanding the allocation area for purposes of tax increment financing and amending the Airport Economic Development Area Development Plan (Portage Prairie)

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WHEREAS, there was presented at this meeting of the Commission for its consideration and approval a proposed amendment to the Development Plan setting out the boundaries of the area, adding parcels of property to the Property Acquisition List and further identifying the types of economic development projects and purposes to be undertaken in the area (the Development Plan as amended is hereinafter referred to as the "Development Plan"), a copy of which is attached hereto as Exhibit B; and WHEREAS, the proposed amendment to the Development Plan provides for the expansion and widening of Olive Road between the Toll Road and Brick Road; and WHEREAS, the Commission has caused notice of a public hearing regarding its consideration of expanding the Airport Economic Development Area and amending the Development Plan has described above scheduled for June 25, 2008 to be (i) published in the South Bend Tribune and the Tri-County News on June 13, 2008, (ii) filed in the offices of the entities required under Section 17(b) of the Act; and (iii) sent by first class mail at least ten (10) days prior said public hearing to (a) all affected neighborhood associations (as such term is used in Section 17.5 of the Act), if any, (b) to persons owning property in Expansion Area No. 24, and (c) to the persons owning a property proposed to be added to the Property Acquisition List, which are listed and described at Exhibit D, all in accordance with and in satisfaction of the requirements of the Act; and WHEREAS, the Commission conducted a public hearing held on the 25th day of June, 2008, at 10:00 a.m., (local time), at 1308 County-City Building, South Bend, Indiana, at which the Commission heard all persons interested in the proceedings and received and considered one written remonstrances and an objection containing 75 signatures and other such evidence presented; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, governing body of the City of South Bend, Department of Redevelopment, as follows: 1. The Commission finds that the proposed amendment to the Development Plan and to Resolution No. 919, as amended, is reasonable and appropriate when considered in relation to the Development Plan and to Resolution No. 919, as amended, respectively, and the purposes of the Act. 2. The Commission finds that the Development Plan, as amended, and Resolution No. 919, as amended and as hereby further amended, conforms to the comprehensive plan of the City. 3. The Airport Economic Development Area is hereby expanded to include Expansion Area No. 24 as described at Exhibit A, and the Airport Economic Development Area, as expanded, is to be known hereafter as the "Airport Economic Development Area". 4. The Airport Economic Development Area, Allocation Area No. 1 ("Allocation Area No. 1 ") is hereby expanded to include Expansion Area No. 24 as described at Exhibit A so that the boundaries of the Allocation Area No. 1 and the Airport Economic Development Area are coterminous. Any taxes levied on the property imposed under I.C. 6-1.1 in Allocation Area No. 1 shall be allocated, distributed and used as provided in Resolution No. 919, as amended, and the Act. •