5D2 Resolution No. 3624 (Confirming TIF Expansion SSDA) - Signed

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SOUTH BEND (INDIANA) REDEVELOPMENT COMMISSION STATEMENT DISCLOSING THE IMPACT OF AMENDING THE SOUTHSIDE DEVELOPMENT AREA AND SOUTHSIDE ALLOCATION AREA 1 The City of South Bend (the “City”) Redevelopment Commission (the “Commission”) is required by Indiana Code 36-7-14, as amended (the “Act”), to provide a statement disclosing the impact of amending a tax allocation provision on the overlapping taxing units. This impact statement discloses and explains the impact on the overlapping taxing units caused by amending the development area and allocation area and capturing Tax Increment (as hereinafter defined). AMENDMENT OF THE AREA, ALLOCATION AREA, AND THE PLAN The Commission adopted Declaratory Resolution No. 1914 on November 1, 2002 (as amended, the “Declaratory Resolution”) establishing the Southside Development Area (the “Original Area”) and a coterminous allocation area (“Original Allocation Area”) and approving an economic development plan for the Original Area (the “Original Plan”). On August 28, 2014, the Commission adopted Resolution No. 3227 amending the Declaratory Resolution to expand the Original Area (as amended, the “Existing Area”) and the Original Allocation Area (as amended, the “Existing Allocation Area”) and to amend the Original Plan (as amended, the “Existing Plan”). The Existing Area is located within the southern portion of the City's corporate limits, specifically, South Bend - Centre Township and South Bend - Portage Township. On June 13, 2019, the Commission adopted Resolution No. 3480 further amending the Original Declaratory Resolution (the “Amending Resolution”) to (1) transfer territory from the River West Development Area to the Existing Area (the “Transferred Area”), (2) designate the Transferred Area as a part of the Existing Allocation Area (collectively, the “Allocation Area”), (3) add certain territory to the Existing Area (the “Expansion Area” and with the Existing Area and the Transferred Area, the “Area”), (4) designate the Expansion Area as an allocation area (the “Expansion Allocation Area”), and (5) amend and restate the Existing Plan (the Existing Plan as amended and restated, the “Amended and Restated Plan”). The Allocation Area and Expansion Allocation Area are referred to collectively as the “Southside Allocation Area”. On October 10, 2024, the Commission adopted Resolution No. 3608 to further amend the Declaratory Resolution (the “2024 Amending Resolution”) to (1) add certain territory to the Area (the “Expansion Areas” and with the Area, the “Amended Area”), (2) designate the Expansion Areas as an allocation area (the “Expansion Allocation Area” and with the Southside Allocation Area, the “Amended Southside Allocation Area”), and (3) amend and restate the Plan (the “Amended and Restated Plan”). The Expansion Areas are located within the South Bend – Portage Township taxing district. The Declaratory Resolution, as amended, allows for the capture of Tax Increment (defined herein) resulting from the growth in all non-residential real property assessed value within the Southside Allocation Area in excess of the base assessed value defined in the Act. In the 2024 Amending Resolution, the Commission finds that the Expansion Areas need redevelopment to an extent that cannot be corrected by regulatory processes or by the ordinary operations of private enterprise without resort to the powers allowed under the Act, and that the public health and welfare will be benefitted by the redevelopment of the Expansion Areas. The Commission also finds that the Amended and Restated Plan conforms to other development and redevelopment plans of the City. The 2024 Amending Resolution allows for the capture of real property taxes generated from incremental assessed value in the Expansion Allocation Area. Tax Increment consists of all property tax proceeds from the assessed valuation of non-single-family residential real property in the Expansion Allocation Area as of the assessment date in excess of the base assessed valuation described in Section 39(b)(1) of the Act, multiplied by the current property tax rate, excluding any rate established by a post-2009 referendum and, any post December 31, 2022 Fire Territory rate established (referred to throughout as “Tax Increment”). The base assessed value means the net assessed value of all the property in an allocation area as finally determined for the assessment date immediately preceding the effective date of a declaratory resolution establishing the allocation area pursuant to Section 39 of the Act. The Expansion Allocation Area will have a base assessment date of January 1, 2024 and the base assessment dates of the Southside Allocation Area is unchanged. The Expansion Allocation Area will expire no later than 25 years after the date on which the first obligation is incurred to pay principal and interest on