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FUNDING AND REIMBURSEMENT AGREEMENT
<br /> This FUNDING AND REIMBURSEMENT AGREEMENT, is made and entered into as
<br /> of 1, 2025 (the "Agreement") by and between the CITY OF SOUTH BEND,
<br /> INDIANA (the "City"), a municipal corporation duly organized and validly existing under the
<br /> laws of the State of Indiana (the "State"), and the SOUTH BEND REDEVELOPMENT
<br /> COMMISSION (the "Redevelopment Commission"), as governing body of the CITY OF
<br /> SOUTH BEND REDEVELOPMENT DISTRICT, a special taxing district duly organized and
<br /> validly existing under the laws of the State of Indiana(the"District").
<br /> WHEREAS, the Indiana Code, Title 36,Article 7, Chapters 11.9 and 12, as supplemented
<br /> and amended (collectively, the "Act"), authorizes and empowers the City to make direct loans to
<br /> users or developers (each as defined under the Act) for the cost of acquisition, construction, or
<br /> installation of economic development facilities, with such loans to be secured by the pledge of
<br /> one or more taxable or tax-exempt debt obligations of the users or developers, for diversification
<br /> of economic development and promotion of job opportunities in or near such City and vests the
<br /> City with powers that may be necessary to enable it to accomplish such purposes; and
<br /> WHEREAS, the City, upon finding that the Project (as hereinafter defined) and the
<br /> proposed financing of the construction thereof will create additional employment opportunities
<br /> in the City; will benefit the health, safety, morals, and general welfare of the citizens of the City
<br /> and the State; and will comply with the purposes and provisions of the Act, adopted an ordinance
<br /> approving a loan to New Day Intake Center, Inc., an Indiana nonprofit corporation (the
<br /> "Borrower"); and
<br /> WHEREAS, the City intends to make a direct draw loan to the Borrower, pursuant to the
<br /> provisions of the Act, this Agreement, and the Financing and Loan Agreement, dated as of
<br /> 1, 2025, between the City and the Borrower (the "Loan Agreement"), all for the
<br /> purpose of financing a portion of the Project; and
<br /> WHEREAS, pursuant to Indiana Code 36-7-14-39(b)(3) and Indiana Code 36-7-25-3(a),
<br /> the Redevelopment Commission may use certain incremental property taxes to reimburse the
<br /> City for expenditures (including loans) made for local public improvements (which include
<br /> buildings and all expenses reasonably incurred in connection with the acquisition and
<br /> redevelopment of property) that are physically located in or physically connected to, or directly
<br /> serve or benefit,each of the Allocation Areas(as defined herein); and
<br /> WHEREAS, pursuant to Resolution No. 3646, adopted by the Redevelopment
<br /> Commission on August 14, 2025, a copy of which is attached hereto as Exhibit A (the
<br /> "Authorizing Resolution"), the Commission has authorized the use of Tax Increment Revenues
<br /> (as defined herein), in the total amount of not to exceed Four Million Dollars ($4,000,000) from
<br /> moneys currently on deposit in the Allocation Funds (as defined herein), in order to reimburse
<br /> the City for expenditures made,or to be made,to finance a portion of the Project costs.
<br /> NOW THEREFORE, in consideration of the premises, the covenants and agreements
<br /> hereinafter contained, and for other valuable consideration, the receipt and sufficiency of which
<br /> are hereby acknowledged, the City and the District hereby agree and covenant.
<br /> (End of Recitals)
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