Redevelopment Commission Minutes 04.24.25 - Signed

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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 6 Bauer stated that, we plan to cover the remaining matches through a new allocation area, either via financing or future increment generated by the project. We're already designing the infrastructure and plan to proceed with the demolition of the Elwood Shopping Plaza, which is included in the IFA loan scope. The bid specifications are being prepared, and we're on track to meet our contractual requirements with the IFA for commencement. Demolition will count as the start of work for the 6-month term. President Warner spoke in favor of the project. The motion was made by Eli Wax to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved Resolution No. 3637 as presented on April 24, 2025. 3. Public Hearing Concerning the Appropriation of Proceeds of the Tax Increment Revenue Bond A notice was published in the South Bend Tribune on April 11, 2025, regarding the public hearing concerning appropriation of proceeds of the redevelopment district of the City of South Bend, Indiana tax increment revenue bonds A Public Hearing regarding the Appropriation of Proceeds of the Tax Increment Revenue Bond was opened to the public for comments and considerations. No comments were made from the public. The Public Hearing was closed. 4. Resolution No. 3638 (Appropriating the Proceeds of Tax Increment Revenue Bonds for Drewry’s/Portage Elwood) The motion was made by Troy Warner to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes