05-26-87 Council Meeting Minutes

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• _.I-- - - - 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 two hundred twenty (220) 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 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's Resolution No. 801 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. 762, as approved by previous resolution of the Common Council, which includes but is not limited to the approval of the designation and establishment of the Studebaker Corridor Allocation Area (South Bend Allocation Area No. 6), pursuant to Section 39 of the Act. 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. /s/ Joseph T. Serge Member of the South Bend Common Council EXHIBIT A South Bend Common Council Resolution No. Studebaker Corridor Development Area Findings of Fact May 26, 1987 In 1986, the South Bend Redevelopment Commission declared the Studebaker Corridor Development Area to be blighted and on February 14, 1986, conducted a public hearing and adopted its Findings of Fact based on evidence of blight presented at that time. In order to comply with the Tax Reform Act of 1986, the redevelopment starr has re- examined that evidence of .light and has presented that evidence tn the South Bend Commission Council on May 2b, 1.987. The South Bend Common Council has found that the Studebaker Corridor Development Area, which has previously been found by the Redevelopment Commission to be blighted, continues to be blighted to an extent that cannot be corrected by regulatory processes or by the ordinary operation of private enterprise without resort to the Indiana Redevelopment Law IC 36- 7 -14 -1, et. seq. Blight is found in the area based on the following facts: 1. Forty -nine percent (49 %) of the total building floor area in the Studebaker Plant Complex is vacant or underutilized. 2. Sixty -four percent (64 %) of the total building floor area in the north section north of Sample Street) of the Studebaker Plant Complex is vacant or underutilized. 3. The condition of buildings in the Studebaker Plant Complex is deteriorating. Almost half (46 %) of these buildings have an exterior condition that is ,poor" or "very poop while abouL 30% are classified as being in "poor" or "very poor" overall condition. 4. Thirty -two percent (32 %) of the land and buildings in the areas (Sub -Areas A and B) adjacent to the main plant complex are vacant or underutilized. This is especially prevalent in Sub -Area A (i.e., Franklin and Lafayette Streets) where forty -five percent (45 %) of the land and buildings are vacant or underutilized. 5. Over twenty -eight percent (28 %) of all buildings in the adjacent area are classified as being in "poor" or "very poor" condition. The majority of these deteriorating structures are residential.