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' protect and increase property values in the City, the District and the State. <br />2. The Project will create approximately 92 permanent jobs with an approximate <br />payroll, including benefits, of $2,701,000 per year, which will significantly <br />improve the opportunities for gainful employment in the District and the City. <br />3. Market conditions for available parking spaces around the Site are unpredictable <br />at this time and that the size, configuration and condition of the Site present <br />challenges that may increase the cost of the Parking Facility, and said risks are at <br />a level which may make the completion of the Parking Facility portion of the <br />Project cost prohibitive. <br />4. The availability of additional parking spaces in the Area will increase the <br />likelihood of sustaining and creating further economic development and <br />redevelopment of the Area. <br />5. Without the Commission's involvement as contemplated by the Development <br />Documents, the development of the Site in its existing state, size and <br />configuration would not support the Project with the Parking Facility as currently <br />proposed, or any other project that would be likely to result in the Site's highest <br />and best use. <br />6. The Commission's involvement in the Project as described in this resolution and <br />• the Development Documents will best serve the interests of the City and its <br />citizens. <br />7. The Project, the Development Documents and the assistance thereof as set forth in <br />the Development Documents comply with applicable federal, state and local laws <br />under which the Project has been undertaken and is being assisted and the <br />Development Documents and the actions contemplated therein are authorized. <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AS FOLLOWS: <br />1. The Project, as proposed by the Developer and as contemplated in the <br />Development Documents, is hereby approved. <br />2. The Commission hereby approves the Developer Documents in the form attached <br />hereto as Exhibit A, including the Development Agreement, the Contract for Sale of Land for <br />Private Development, the Deed and the other certificates and agreements attached thereto or <br />contemplated therein. <br />3. The Commission hereby authorizes the President or the Vice - President to execute, <br />3 <br />F.•1DAT46SHAREILegall WpdatalSEPlEconomic DevelopmentlGamedaylResolution Approving Gameday Development Agreement. .Doc <br />