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RESOLUTION NO. 2015-02 <br />A RESOLUTION OF THE SOUTH BEND ECONOMIC DEVELOPMENT <br />COMMISSION RECOMMENDING THE ESTABLISHMENT OF <br />AN ECONOMIC DEVELOPMENT TARGET AREA <br />(JMS Building and adjacent parking lot) <br />WHEREAS, the South Bend Economic Development Commission (the <br />"Commission ") exists and operates pursuant to the provisions of Indiana Code § 36 -7 -12, et seq.; <br />and <br />WHEREAS, under the authority granted by Indiana Code § 36 -7 -12, et seq., and in <br />furtherance of economic development in the City of South Bend (the "City "); the Commission <br />has, through City staff members, investigated, studied, and surveyed the need for additional job <br />opportunities within the City and has formed recommendations concerning the economic <br />development possibilities within the City; and <br />WHEREAS, based upon such assessments and reports by the City staff, the <br />Commission has determined that it is necessary to'designate a specific geographic area within the <br />City as an Economic Development Target Area ( "EDTA ") because such area has become <br />undesirable or impossible for normal development and occupancy because of a lack of <br />development, cessation of growth, deterioration of improvements or character of occupancy, age, <br />obsolescence, substandard buildings, or other factors that have impaired values or prevent a <br />normal development of property or use of property; and <br />WHEREAS, on June 5, 1985, the property known as the JMS Building (the <br />"Property ") was added to the National Register of Historic Places, with reference number <br />85001216; and <br />WHEREAS, the Property, including its fagade, roof, internal systems, and <br />infrastructure beneath the public way, has deteriorated and become obsolete to an extent that it <br />cannot support normal development and occupancy; and <br />WHEREAS, approximately 75% of the Property's space is. vacant; and <br />WHEREAS, the assessed value of the Property reflects that it is obsolete; and <br />WHEREAS, the Commission now desires to recommend to the South Bend Common <br />Council (the "Council ") the designation of the Property as an EDTA. <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Economic <br />Development Commission that: <br />1. A favorable recommendation is made to the South Bend Common Council for the <br />establishment of the Property and its adjacent parking lot, collectively comprised of parcel <br />1 <br />EXHIBIT A <br />