Resolution No. 3607 - REDA TIF Amendments

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RESOLUTION NO. 3607 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AMENDING THE BOUNDARIES OF THE RIVER EAST DEVELOPMENT AREA AND THE RIVER EAST DEVELOPMENT AREA ALLOCATION AREA NO. 1, AMENDING AND RESTATING THE DEVELOPMENT PLAN FOR SAID AREA AND REGARDING RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the City of South Bend, Indiana, Department of Redevelopment (the “Department”) exists and operates under the provisions of the Redevelopment of Cities and Towns Act of 1953 which has been codified in Indiana Code 36-7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission has previously designated and declared an area in the City of South Bend, Indiana (the “City”), presently known as the River East Development Area (the “Existing Area”), as a redevelopment area and as an allocation area for purposes of tax increment financing (the “Existing Allocation Area”), has previously adopted a Development Plan for the Existing Area, which development plan has been amended from time to time (the “Existing Plan”) and has established an allocation fund for said Existing Allocation Area; and WHEREAS, the Commission adopted a confirming resolution on November 10, 2014, confirming a declaratory resolution previously adopted by the Commission (i) consolidating into what had been previously known as the Northeast Neighborhood Development Area certain territory of what had been previously known as the South Bend Central Development Area to form the Existing Area; (ii) designating and declaring certain areas within the City to be redevelopment areas and allocation areas for purposes of tax increment financing to expand the Existing Area and the Existing Allocation Area, respectively; (iii) transferring certain property previously included on the Central Development Area acquisition list to the Existing Area acquisition list; and (iv) approving an amendment to the development plan for the Existing Area; and WHEREAS, the Commission adopted a confirming resolution on June 13, 2019, confirming a declaratory resolution previously adopted by the Commission (i) amending the boundaries of the Existing Area to add certain territory; and (ii) approving an amendment to the development plan for the Existing Area; and WHEREAS, the Commission now desires to amend the boundaries of the Existing Area to add certain other territory, more particularly depicted on the map set forth in Exhibit A attached hereto and made a part hereof (collectively, the “Expansion Areas” and collectively with