Resolution No. 3665 (Taxable ED Revenue Bonds, Series 2026) - Signed

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RESOLUTION NO. 3665 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION PLEDGING CERTAIN TAX INCREMENT REVENUES TO THE PAYMENT OF CERTAIN TAXABLE ECONOMIC DEVELOPMENT REVENUE BONDS OF THE CITY OF SOUTH BEND FOR THE COLFAX CORNER ML, LLC PROJECT WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the City of South Bend, Indiana, Department of Redevelopment (the “Department”) and the Redevelopment District of the City of South Bend, Indiana (the “District”), exists and operates under the provisions of Indiana Code 36-7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission has heretofore adopted a declaratory resolution (as subsequently confirmed and amended from time to time, the “Declaratory Resolution”) designating an area known as the River West Development Area (the “Area”) as an economic development area pursuant to the Act, designating portions of the Area as allocation areas pursuant to Section 39 of the Act for purposes of capturing ad valorem property taxes levied and collected on all taxable real property from the incremental assessed value, and approving an economic development plan for the Area (the “Plan”); and WHEREAS, the Commission on December 18, 2025, approved and adopted its Resolution No. 3661 for the purpose of making additional amendments to the Area and the Plan including to designate a portion of the Area as a separate allocation area pursuant to Section 39 of the Act to be known as the Lafayette North Allocation Area (the “Lafayette North Allocation Area”) for purposes of capturing ad valorem property taxes levied and collected on all taxable real property from the incremental assessed value located in the Lafayette North Allocation Area; and WHEREAS, the City of South Bend, Indiana (the “City”), the Commission and Colfax Corner ML, LLC (the “Developer”), have entered into a Development Agreement, dated as of December 18, 2025 (the “Development Agreement”), whereby the Developer has agreed that the Developer will undertake the acquisition, development, construction, equipping, renovation, and/or reconstruction of space in the former South Bend Tribune building, along with new construction of an adjacent building along Main and Colfax in the City to include approximately 202,000 rentable square feet of flexible workspace and ground-floor retail to be located in the Lafayette North Allocation Area, as more fully described in the Development Agreement (the “Project”); and WHEREAS, the City is considering the issuance of its City of South Bend, Indiana, Taxable Economic Development Revenue Bonds, Series 2026 (Colfax Corner ML, LLC Project) (with such further series, different series or one or more subseries designation as determined to be necessary or appropriate), in a maximum aggregate principal amount not exceeding Thirty Million Eight Hundred Thousand Dollars ($30,800,000) (the “Bonds”), a portion of the net proceeds of such Bonds to be used for the purpose of financing, refinancing or reimbursing a portion of the costs of the Project, capitalized interest on the Bonds, if necessary, a debt service reserve fund