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"Project" means the construction, renovation or rehabilitation of certain real property in <br /> the City to develop a no less than one hundred and ten (110) bed lower-barrier emergency <br /> shelter,with an approximate total development cost of Fourteen Million Dollars($14,000,000). <br /> "Project Fund" means the Project Fund established and held by the City or by a <br /> financial institution or custodian selected by the City for such purpose, as the case may be, for <br /> purposes of paying Costs of Construction of the Project. <br /> "Redevelopment Commission" means the South Bend Redevelopment Commission, <br /> governing body of the District. <br /> "River East Development Area" means the economic development area within the <br /> District previously established by the Redevelopment Commission in accordance with Indiana <br /> Code 36-7-14. <br /> "River West Development Area" means the economic development area within the <br /> District previously established by the Redevelopment Commission in accordance with Indiana <br /> Code 36-7-14. <br /> "South Side Development Area" means the economic development area within the <br /> District previously established by the Redevelopment Commission in accordance with Indiana <br /> Code 36-7-14. <br /> "State"means the State of Indiana. <br /> "Tax Increment Revenues" means the property tax proceeds received by the <br /> Redevelopment Commission which are derived from the assessed valuation of real property in <br /> each of the Allocation Areas in excess of the assessed valuation described in Indiana Code 36-7- <br /> 14-39(b)(1) and Indiana Code 36-7-14-39(b)(2), as such statutory provision exists on the date of <br /> execution of this Agreement, such revenues consisting of (i) $465,377 from the South Side <br /> Development Area Allocation Area, (ii) $2,475,686 from the River West Development Area <br /> Allocation Area, and(iii) $1,058,937 from the River East Development Area Allocation Area. <br /> Section 1.2. Exhibits. The following Exhibits are attached to and by reference made a <br /> part of this Agreement. <br /> Exhibit A. Copy of Authorizing Resolution. <br /> (End of Article I) <br /> 3 <br />