Laserfiche WebLink
2 <br />ARTICLE I. <br /> <br />DEFINITIONS AND EXHIBITS <br />Section 1.1. Terms Defined. As used in this Agreement, the following terms shall have <br />the following meanings unless the context clearly otherwise requires: <br />“Act” means, collectively, Indiana Code 36-7-11.9, Indiana Code 36-7-12, Indiana Code <br />36-7-14, and Indiana Code 36-7-25, each as amended. <br />“Allocation Areas” means, collectively, the (i) River West Development Area Allocation <br />Area within the River West Development Area, (ii) River East Development Area Allocation <br />Area within the River East Development Area, (iii) South Side Development Area Allocation <br />Area within the South Side Development Area, each established by the Redevelopment <br />Commission in accordance with Indiana Code 36-7-14-39 for the purposes of capturing <br />incremental ad valorem real property taxes levied and collected on all taxable property in such <br />allocation area. <br />“Allocation Funds” means, collectively, the (i) the River West Development Area <br />Allocation Area Allocation Fund, (i) the River East Development Area Allocation Area <br />Allocation Fund, and (iii) the South Side Development Area Allocation Area Allocation Fund, <br />each established under Indiana Code 36-7-14 for the Tax Increment Revenues collected in the <br />Allocation Area. <br />“Authorizing Resolution” shall have the meaning set forth in the recitals hereof. <br />“Borrower” means New Day Intake Center, Inc., an Indiana nonprofit corporation duly <br />organized and validly existing under the laws of the State of Indiana and qualified to do business <br />in the State of Indiana, or any successors thereto. <br />“City” means the City of South Bend, Indiana, a municipal corporation duly organized <br />and validly existing under the laws of the State. <br /> “Costs of Construction” means the costs of providing for an “economic development <br />facility” as defined and set forth in the Act, including any legal, accounting, management, <br />program or consulting fees and expenses of the Borrower, the City or the District, and any other <br />costs permitted under the Act related thereto. <br />“Development Agreement” means the Development Agreement, dated August 14, 2025, <br />by and between the Borrower and the Redevelopment Commission. <br />“District” means the Redevelopment District of the City. <br />“Loan” means the draw loan from the City to the Borrower in the original aggregate <br />principal amount of not to exceed $4,000,000, which will be made under the terms of the Loan <br />Agreement, the proceeds of which will be used by the Borrower to pay a portion of the Costs of <br />Construction for the Project. <br />“Loan Agreement” means the Financing and Loan Agreement, dated as of __________ 1, <br />2025, between the City and the Borrower.