No. 0846 approving modifications to and execution of a lease between the SBRA and the SBRC for the St. Joseph/Wayne parking facility and other related matters

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NOTICE OF EXECUTION AND APPROVAL OF LEASE (St. Joseph /Wayne Parking Facility) 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 with the South Bend Redevelopment Authority (the "Redevelopment Authority") providing for the acquisition by lease /purchase by the Commission from the Redevelopment Authority of a parking facility to be known as the St. Joseph /Wayne Parking Facility (the "Parking Facility"). After a public hearing held on the proposed lease by the Commission on April 29, 1988, at which all interested parties were provided the opportunity to be heard, the Commission adopted its Resolution No. 841 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 Parking Facility 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 May 23, 1988, and the State Board of Tax Com- missioners subsequently issued its order approving the Lease pursuant to IC 6 -1.1- 18.5 -8. -1- EXHIBIT "B"