2007-10-17 Resolution 161 - Laserfiche WebLink

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 Commission desires to undertake certain local 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, withoutlimitation, engineering and- geotechnical testing; and related improvements (collectively, the "Project"); and WHEREAS, the Common Council of the City :has previously adopted an ordinance. creating the South- Bend Redevelopment Authority (the "Authority") pursuant to Indiana-Code'36-7-14.5 as a separate body, corporate and politic, and as an instrumentality ofthe City of South Bend, Indiana, to finance local public improvements for lease to the Commission; and WHEREAS, the Authority intends to issue 'its South Bend Redevelopment Authority lease rental revenue .bonds (the "Bonds") to finance the costs of the Project and expenses. related thereto, including without limitation, issuance of the Bonds; and BDDBOI 4910658v1 - 2 - ~