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Item 3.b.ii <br /> <br />DMS 43613024.1 <br />NOTICE OF PUBLIC HEARING OF THE <br />SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION <br /> <br /> Notice is hereby given that the South Bend Economic Development Commission (the <br />“Commission”) will hold a public hearing on Tuesday, July 9, 2024, at 4:00 p.m., in the Board of <br />Public Works meeting room located on the 13th floor of the County-City Building, 227 West <br />Jefferson Boulevard, South Bend, Indiana, concerning the funding of a forgivable loan to <br />Affordable HomeMatters Indiana LLC, a single member limited liability company owned and <br />operated by Intend Indiana, Inc., an Indiana nonprofit corporation (the “Developer”), in an <br />amount not to exceed $5,000,000 on a draw basis (the “Loan”) to be evidenced by the <br />Developer’s promissory note (the “Note”) to finance a portion of the construction of economic <br />development projects and facilities within the meaning of Indiana Code 36-7-11.9 and 36-7-12 <br />(the “Act”), consisting of up to ninety-two (92) single-family detached homes containing two (2) <br />to four (4) bedrooms of which (i) at least thirty-nine (39) homes will be sold to households <br />earning less than eighty percent (80%) of the Area Median Income (“AMI”), and (ii) at least <br />seventeen (17) homes will be sold to households earning between eighty percent (80%) of AMI <br />and one hundred twenty percent (120%) of AMI, with an approximate total development cost of <br />Twenty-five Million Dollars ($25,000,000), on certain parcels of real property generally located <br />in the Lincoln Park neighborhood in the City (collectively, the “Project”). <br />The Loan will be made by the City pursuant to the Act, an ordinance (the “Loan <br />Ordinance”) proposed for adoption by the Common Council of the City (the “Council”), a <br />Financing and Loan Agreement between the City and the Developer (the “Loan Agreement”), <br />and a Funding and Reimbursement Agreement between the City and the South Bend <br />Redevelopment Commission (the “Funding Agreement” and with the Loan Ordinance and the <br />Loan Agreement, collectively, the “Financing Agreements”). <br />Copies of the form of the Financing Agreements will be on file with the Clerk of the City <br />and are available for public inspection at the office of the Clerk of the City during regular <br />business hours daily, except Saturdays, Sundays and legal holidays. <br /> At the time and place fixed for the public hearing, all taxpayers, residents or interested <br />persons will be given an opportunity to express their views for or against the proposed financing <br />for the Project in writing or in person. Following the public hearing, the Commission will <br />consider whether the financing of the Project will have an adverse competitive effect on any <br />similar facilities already constructed or operating in the City. If the Commission shall find for <br />itself and on behalf of the City that the proposed financing will be of benefit to the health and <br />welfare of the City and complies with the purposes and provisions of the Act, the Commission <br />will adopt a resolution approving the proposed financing and the form of the Financing <br />Agreements, including the Loan in the aggregate principal amount not to exceed Five Million <br />Dollars ($5,000,000), and the form of the proposed Loan Ordinance to be recommended to the <br />Council for adoption. <br /> SOUTH BEND ECONOMIC <br /> DEVELOPMENT COMMISSION <br />[TO BE PUBLISHED ONE TIME IN THE SOUTH BEND TRIBUNE ON FRIDAY, JUNE 28, 2024]