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<br />Revenues”), (iii) created the River East Allocation Area Fund into which all River East TIF
<br />Revenues are deposited, all pursuant to and as described Section 39 of the Act, and (iv) approved
<br />a development plan for the River East Development Area; and
<br />WHEREAS, New Day Intake Center, Inc., an Indiana nonprofit corporation (the
<br />“Developer”), has informed the City that it desires to acquire and construct certain economic
<br />development facilities within the meaning of Indiana Code 36-7-11.9 and 36-7-12 within the City
<br />which will consist of the construction, renovation or rehabilitation of certain real property in the
<br />City to develop a no less than one hundred and ten (110) bed lower-barrier emergency shelter, with
<br />an approximate total development cost of Fourteen Million Dollars ($14,000,000) (collectively,
<br />the “Project”), and has requested that the City make a loan to the Developer on a draw basis for
<br />the purposes of financing or reimbursing the Developer for a portion of the costs of acquisition
<br />and construction of the Project; and
<br />WHEREAS, the Common Council of the City adopted its loan ordinance (the "Loan
<br />Ordinance") on September 22, 2025, which Loan Ordinance authorizes the issuance and funding
<br />of a forgivable loan from the City to the Developer on a draw basis (the "Loan") in the total
<br />aggregate principal amount not to exceed Four Million Dollars ($4,000,000) to finance a portion
<br />of the Project; and
<br />WHEREAS, the Commission previously adopted its Resolution No. 3646 on August 14,
<br />2025, determining, subject to appropriation thereof by the Commission, to make available (i) South
<br />Side TIF Revenues in the amount $465,377, (ii) River West TIF Revenues in the amount of
<br />$2,475,686, and (iii) River East TIF Revenues in the amount of $1,058,937 to simultaneously
<br />reimburse the City for its costs incurred to fund each draw on the Loan to the Developer with
<br />respect to the Project; and
<br />WHEREAS, the Commission now desires to appropriate an amount not to exceed Four
<br />Million Dollars ($4,000,000) consisting of (i) South Side TIF Revenues in the amount $465,377,
<br />(ii) River West TIF Revenues in the amount of $2,475,686, and (iii) River East TIF Revenues in
<br />the amount of $1,058,937, to fund draws on the Loan to the Developer with respect to the Project;
<br />and
<br />WHEREAS, notice has been given and this date a public hearing has been conducted
<br />regarding such appropriation, as required by Indiana law;
<br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
<br />COMMISSION, AS FOLLOWS:
<br />SECTION 1. 1. An appropriation in an amount not to exceed Four Million Dollars
<br />($4,000,000) is hereby made for the purpose of simultaneously reimbursing the City for
<br />expenditures made, or to be made, by the City to fund draws on the Loan to the Developer with
<br />respect to the Project, and the funds to meet this appropriation will be provided out of (i) South
<br />Side TIF Revenues collected in the South Side Allocation Area in the amount $465,377, (ii) River
<br />West TIF Revenues collected in the River West Allocation Area in the amount of $2,475,686, and
<br />(iii) River East TIF Revenues collected in the River East Allocation Area in the amount of
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