Agreement - Cross Community CDC - Pilot Housing Subsidy Program

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AGREEMENT FOR PROGRAMS AND SERVICES WITH CROSS COMMUNITY INC. PILOT HOUSING SUBSIDY PROGRAM THIS AGREEMENT (the or this "Agreement") is made effective the 20th day of December 2018, by and between the CITY OF SOUTH BEND, INDIANA, a municipal corporation organized and operating under the laws of the State of Indiana, acting by and through the Board of Public Works (collectively the "City") and CROSS COMMUNITY INC. (the "Organization"). RECITALS WHEREAS, the City believes that improving the appeal and vibrancy of the City's neighborhoods with a range of new and different housing types will encourage not only additional investment in these new properties but in the surrounding neighborhoods and in the City more generally; and WHEREAS, the City finds that there are neighborhoods within it that have vacant parcels, an approved plan, and in which a significant number of low and moderate income individuals and families reside, which without development are at risk of additional dis-investment in those areas; and WHEREAS, the City desires to encourage development on these vacant and abandoned properties to improve their aesthetic appeal and encourage additional investment not only in such properties but also in the surrounding neighborhoods and in the City more generally; and WHEREAS, the City finds that the condition of vacant properties is vital to the City and its neighborhoods and that providing for additional investment in vacant properties will serve that property, its surrounding neighborhoods, and the residents of the City, generally; and WHEREAS, in light of the foregoing, the City desires to provide for the establishment, development, and administration of a "risk mitigation" housing program, commonly described as the Pilot Housing Subsidy Program more particularly described at Exhibit (the "Program") to incentivize investment in vacant properties; and WHEREAS, the Organization is an Indiana not -for -profit corporation and pursuant to its Articles and Bylaws is organized exclusively for charitable, religious, educational and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under 501 (c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code.