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South Bend Tribune Home News Sports Entertainment Life opinion <br />F Back <br />Govt Public Notices <br />01/24/2025 <br />NOTICE OF <br />PUBLIC HEARING <br />Notice is hereby given that a public hearing will be held by the South Bend Economic <br />Development Commission (the "Commission"), on behalf of itself and the City of South <br />Bend, Indiana (the "Issuer" or "City"), on Thursday, February 6, 2025, at 1:oo p.m., in the <br />Mayor's Office conference room located on the 14th floor of the County -City Building, 227 <br />West Jefferson Boulevard, South Bend, Indiana, to consider the approval of the issuance <br />by the Issuer of a maximum principal amount of $17,000,000 of its City of South Bend, <br />Indiana, Taxable Economic Development Tax Increment Revenue Bonds, Series 2025 (J.C. <br />Hart Development Project) (the "Bonds"), in one or more series. <br />If the Bonds are approved and issued, the City will provide (or be deemed to provide) a <br />portion of the proceeds of the Bonds to J.C. Hart Company, Inc. (the "Developer"), to <br />finance a portion of the costs of the development and construction of 2 buildings housing <br />291 apartments and a 398 space structured garage (the "Project"), which Project shall be <br />located in the Riverwalk Allocation Area (the "Allocation Area"), designated by the South <br />Bend Redevelopment Commission. A portion of the proceeds of the Bonds may also be <br />used to finance capitalized interest on the Bonds for a period of not to exceed one (1) year <br />following project completion and the costs of issuance of the Bonds. <br />The Bonds will not be an indebtedness or general obligation of the City and will not be <br />payable in any manner by the taxing power of the City. The Bonds will be payable solely <br />from tax increment revenues derived from the Allocation Area. <br />The Commission will consider whether the proposed Project may have an adverse <br />competitive effect on similar facilities already constructed or operating in or about the <br />City. At such hearing, a determination will be made whether the proposed Bond financing <br />complies with the purposes and provisions of Indiana Code 36 7 12, as amended, and will <br />be of benefit to the health or general welfare of the City and its citizens, and if so, the Bond <br />financing will be approved by resolution and such resolution will be transmitted by the <br />Commission to the Common Council of the City for such action in the premises as it deems <br />