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WHEREAS, the Commission previously adopted its Resolution No. 3602 on June 27, <br />2024, determining, subject to annual appropriation by the Commission, to make available the <br />South Side TIF Revenues to simultaneously reimburse the City for its costs incurred to fund each <br />draw on the Loan to the Developer with respect to the Project; and <br />WHEREAS, the Commission now desires to appropriate an amount not to exceed One <br />Million Two Hundred Fifty Thousand Dollars ($1,250,000) to fund the first draw on the Loan to <br />the Developer with respect to the Project; and <br />WHEREAS, notice has been given and this date a public hearing has been conducted <br />regarding such appropriation, as required by Indiana law; <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT <br />COMMISSION, AS FOLLOWS: <br />SECTION 1. 1. An appropriation in an amount not to exceed One Million Two <br />Hundred Fifty Thousand Dollars ($1,250,000), is hereby made for the purpose of simultaneously <br />reimbursing the City for expenditures made, or to be made, by the City to fund the first draw on <br />the Loan to the Developer with respect to the Project, and the funds to meet this appropriation will <br />be provided out of the South Side TIF Revenues collected in the South Side Allocation Area. Said <br />appropriation shall be in addition to all other appropriations provided for in the existing budget <br />and tax levy. <br />SECTION 2. The officers of the Commission and the Controller of the City are <br />hereby directed to make any and all required filings, if any, with the Department of Local <br />Government Finance in connection with this resolution. <br />SECTION 3. The President, Vice President or any other officer or member of the <br />Commission are hereby authorized to take all such actions and to execute all such instruments as <br />are desirable to carry out the transactions contemplated by this resolution, in such forms as such <br />officer or member executing the same shall deem proper, to be conclusively evidenced by the <br />execution thereof. <br />SECTION 4. This Resolution shall be in full force and effect from and after its <br />passage. <br />2 <br />