Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting -July 20, 2007 <br />6. NEW BUSINESS (CONT.) <br />K. Other <br />() continued... <br />for the renewal of the area, to quickly take <br />advantage of development opportunities and <br />to establish a voluntary rehabilitation <br />program which would serve as an appropriate <br />compliment to the corridor's existing assets <br />by addressing the weaknesses detailed above. <br />With limited growth potential, an emphasis <br />needs to be placed upon enhancing the <br />current buildings through facade and exterior <br />improvements. The positive impact <br />generated by such a program could <br />substantially improve the corridor's standing <br />within the local economic market. <br />Mr. Peterson explained what an urban <br />renewal area (URA) is. The Commission, by <br />designating an urban renewal area, can have <br />jurisdiction over various transactions in that <br />area. An urban renewal area is more focused <br />on preventing blight than a redevelopment <br />area which already has declared blight. The <br />urban renewal area also has the ability to <br />bring neighborhood efforts to bear with <br />various programs. Designation of this URA <br />allows the Commission to respond <br />adequately, quickly and appropriately to <br />needs we hear about in our neighborhoods. <br />There will be no tax increment financing area <br />associated with this URA. <br />In Resolution No. 2364 the Commission is <br />making some initial findings necessary to <br />later declare the area an Urban Renewal <br />Area. <br />Mr. Peczkowski: This region of River Park <br />60 <br />