9814-07 Approving the Lease for certain Public Improvements

Home Browse Search

WHEREAS, Kite Realty Group, L.P. has proposed a mixed use development commonly known as the Eddy Street Commons development encompassing approximately twenty-three (23) acres located in the City of South Bend adjacent to the University of Notre Dame campus and which mixed use development is proposed to include the following: retail shops, apartment homes, office space, one full service hotel with conference facilities and three floors of condominiums, one limited service hotel, condominium homes in four different product types, open space and a parking garage structure (collectively, the "Development"); and WHEREAS, the South Bend Redevelopment Authority (the "Authority") at a meeting on October 17, 2007, adopted Resolution No. 161, which; among other things, approved a proposed lease between the Authority and the Commission to be dated as of October 15, 2007 (the "Lease"), for certain land and public improvements, in support of the Development in or serving the Area including, without limitation: a parking garage structure; the reconstruction and/or the extension of Eddy, Burns, Georgiana, Duey, and Napoleon Streets; the upgrading and replacement of water mains, sanitary and storm sewers and site preparation; the extension and upgrading of electrical, telephone and high speed Internet services; other related services including, without limitation, engineering and geotechnical testing; and related improvements (collectively, the "Project"), and directed the Secretary-Treasurer of the Authority to file a copy of said Lease, as approved, with the Commission; and WHEREAS, the Commission, at a meeting on October 9, 2007, approved the form of the Lease, scheduled a public hearing on said Lease to be held on November 2, 2007, pursuant to IC 36-7-14-25.2, and authorized the publication of a notice of public hearing on said Lease pursuant to IC 5-3-1; and BDDBOI 4928711v1 - 2 -