No. 0964 approving execution of a lease between the SBRA and the SBRC for certain land and public improvements and regarding other related matters

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r q. 19, EXHIBIT "B" NOTICE OF EXECUTION AND APPROVAL OF LEASE (Airport Economic Development Area Public Improvement Project) The South Bend Redevelopment Commission (the "Commission ") , governing body of the Redevelopment District of the City of South Bend, Indiana (the "Redevelopment District ") , has executed a Lease dated as of August 1, 1990, with the South Bend Redevelopment Authority (the "Redevelopment Authority ") providing for the acquisition by lease /purchase by the Commission from the Redevelopment Authority of certain land and public improvements (the "Project'!) as described in said Lease. After a public hearing held on the proposed lease by the Commission on September 14, 1990, at which all interested parties were provided the opportunity to be heard, the Commission adopted its Resolution No. 959 which, among other things, authorized and directed the President or Vice President and Secretary of the Commission, on behalf of the City of South Bend, to execute and deliver the Lease in substantially the form presented at the meeting and found that the rental payments to be paid by the Commission are fair and reasonable and that the use of the Project throughout the term of the Lease will serve the public purpose of the City of South Bend and is in the best interests of its residents. The Common Council of the City of South Bend adopted an Ordinance approving the Lease on October 8, 1990, and the State Board of Tax Commissioners subsequently issued its Order approving the Lease pursuant to IC 6 -1.1- 18.5 -8.