No. 2348 designating boundary changes to AEDA to add SEDA, LaSalle Square and Marycrest/Hurwich

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j • Area, the Sample-Ewing Area and the New Areas showing the boundaries of the Airport Area, the Sample-Ewing Area and the New Areas, the location of the various parcels of property, streets and alleys and other features affecting the acquisition, clearance, replatting, replanning, rezoning, or redevelopment of the Airport Area, the Sample-Ewing Area and the New Areas, indicating the parcels of property to be excluded from acquisition, and the parts of the Airport Area, the Sample-Ewing Area and the New Areas that are to be devoted to public ways, levees, sewerage, parks, playgrounds, and other public purposes under the plans for the economic development of the Airport Area, the Sample-Ewing Area and the New Areas as adopted herein; and WHEREAS, there was presented to this meeting of the Commission for its consideration and approval, a copy of the Plan Amendment, which Plan Amendment consists of thirty one (31) pages, with attachments, and is attached hereto as Exhibit D and is entitled: AMENDMENT TO THE AllZPORT ECONOMIC DEVELOPMENT AREA DEVELOPMENT PLAN and is hereinbcforc and herea[ier referred to as the Plan Amendment; and WHEREAS, with approval of the Plan Amendment, which provides for the inclusion of the Sample-Fwing .Area and the New Areas within the Airport Area, the Commission will have opportunities to promote significant opportunities for the gainful employment of the citizens of the City, attract mayor new business entet~~r~ses to the City, retain or expand significant business enterprises existing in the boundaries of the City and meet the other purposes of Section 2.5, 41 and 43 of the Act; and WHEREAS, the public health and welfare will be benefited by the economic development of the Sample-Ewing Area tln-ough its consolidation with the Airport Area under the provisions of the Act and by the economic development of the New Areas through the addition of the New Areas to the Airport Area under the provisions of the Act, and the Plan Amendment will be of public utility and benefit as measured by the attraction or retention of permanent jobs, an increase in the property tax base and improved diversity of the economic base; and WHEREAS, the Commission does not currently intend to acquire any property pursuant to the Plan Amendment; and WHEREAS, Section 43 of the Act establishes that an economic development area maybe an allocation area for the purposes of distribution and allocation of property taxes; and WHEREAS, Section 39 of the Act has been enacted to permit the creation of allocation areas ~~ ithin an economic development area to provide for the allocation and distribution, as provided in the Act, of the proceeds of taxes levied on property situated in an allocation area, and the Commission deems it advisable to combine Allocation Area No. 1 and BDDBOI 47~G224v4 - 3 -