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5A1 Resolution No. 3565 (Approving Execution of Lease COSB 2023 Project Financing)
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5A1 Resolution No. 3565 (Approving Execution of Lease COSB 2023 Project Financing)
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<br /> <br />RESOLUTION NO. 3565 <br />A RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AUTHORIZING THE EXECUTION <br />OF A LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND <br />THE SOUTH BEND REDEVELOPMENT COMMISSION, AND ALL MATTERS <br />RELATED THERETO <br />WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the <br />governing body of the South Bend Department of Redevelopment and the Redevelopment District <br />of the City of South Bend, Indiana (the “District”), exists and operates under the provisions of <br />Indiana Code 36-7-14, as amended from time to time (the “Act”); and <br />WHEREAS, the Commission, pursuant to declaratory resolutions previously adopted by <br />the Commission and amended from time to time, the Commission has declared (i) a certain are a <br />of the City of South Bend (the “City”) known as the “River East Development Area” (the “River <br />East Area”) as a redevelopment area and an allocation area under the Act and approved a <br />redevelopment plan for the Area (ii) a certain area of the City of South Bend (the “City”) known <br />as the “River West Development Area” (the “River West Area”) as an economic development area <br />and an allocation area under the Act and approved an economic development plan for the Area; <br />and <br />WHEREAS, the Commission has given consideration to undertaking local public <br />improvement projects in the River West Area including all or any portion of the following: (i) <br />River Bridge Connector (plus Madison) to South Bend-Notre Dame Trail which consists of Phase <br />3 of the trail project (the “Trail Project”) to construct a pedestrian bridge to connect the trail from <br />the University of Notre Dame campus to the City’s downtown, and any related improvements; (ii) <br />Linden improvements which consists of streetscape improvements in coordination with the Martin <br />Luther King Jr. Dream Center, from College to Birdsell, including improvements for bikes and <br />pedestrians, and any related improvements; (iii) Kennedy Park improvements which consist of <br />natural and aquatic improvements to the existing park and any related improvements to increase <br />accessible recreation resources on the west side of the City; (iv) South East Park improvements <br />which consist of improvements to the park, including splashpad improvements and playground <br />resurfacing, and any related improvements; (v) Martin Luther King Jr. Dream Center <br />improvements which consist of exterior park redevelopment, including without limitation <br />splashpad, playground, basketball court, other related park amenity improvements, and any related <br />improvements; (vi) Rum Village Park Plan improvements which consist of enhancements to the <br />historic pavilion and the Park including exterior restoration and stabilization of the fieldstones, <br />broad arches, and courtyard, and any related improvements; and (vii) all projects related to any of <br />the projects described in clauses (i) through and including (vi) (clauses (i) through and including <br />(vii), collectively, the “River West Improvements”); and <br />WHEREAS, the Commission has given consideration to undertaking additional local <br />public improvements in the River West Area to support and provide incentives to foster the <br />development of the Beacon Integrated Health and Lifestyle District project, said project having <br />been awarded up to a $11,780,000 Regional Economic Acceleration and Development Initiative <br />grant by the South Bend-Elkhart Regional Development Authority, which local public
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