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<br /> <br />RESOLUTION NO. 3674 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION APPROVING A PROPOSED LEASE WITH THE SOUTH <br />BEND REDEVELOPMENT AUTHORITY RELATING TO CERTAIN <br />LOCAL PUBLIC IMPROVEMENT PROJECTS, AUTHORIZING <br />PUBLICATION OF A NOTICE OF PUBLIC HEARING IN <br />CONNECTION THEREWITH, AND ALL MATTERS RELATED <br />THERETO <br />WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the <br />governing body of the South Bend Department of Redevelopment and the Redevelopment District <br />(the “District”) of the City of South Bend, Indiana (the “City”), exists and operates under the <br />provisions of Indiana Code 36-7-14, as amended from time to time (the “Act”); and <br />WHEREAS, the Commission, pursuant to a declaratory resolution previously adopted by <br />the Commission and amended from time to time, has declared a certain area of the City known as <br />the “River West Development Area” (the “Area”) as an economic development area and an <br />allocation area under the Act and approved an economic development plan for the Area; and <br />WHEREAS, the Commission has given consideration to undertaking local public <br />improvement projects in the Area including all or any portion of the following: (i) Coal Line Trail <br />Phase III which consists of the extension of the existing Coal Line Trail from Lincoln Way West <br />to the Martin Luther King Jr. Dream Center, and any related improvements; (ii) College Street <br />streetscape improvements in connection with Phase III of the Coal Line Trail, and any related <br />improvements; (iii) infrastructure improvements consisting of roads, storm water, sewer, and water <br />utility infrastructure improvements along or adjacent to Old Cleveland Road, and any related <br />improvements; (iv) the acquisition, construction, renovation and equipping of a new Rum Village <br />Neighborhood Center, and any related improvements; (v) acquisition of land in the near west side <br />of the City for a new neighborhood park, and any related improvements; (vi) infrastructure <br />improvements to support the redevelopment of the former Drewry’s property and improvements <br />to the adjacent Muessel Grove Park, and any related improvements; (vii) acquisition, construction <br />and equipping of a new parking garage structure attached to the Morris Performing Arts Center, <br />and any related improvements; and (viii) all projects related to any of the projects described in <br />clauses (i) through and including (vii) (clauses (i) through and including (viii), collectively, the <br />“Projects”); <br />WHEREAS, the Commission has given consideration to (i) financing the cost of funding <br />all or any portion of the costs of the Projects and related expenses; (ii) funding a debt service <br />reserve fund, if necessary in connection with the issuance of bonds to finance the costs of the <br />Projects or purchasing a surety bond to satisfy a reserve requirement; and (iii) pay costs incurred <br />in connection with the issuance of said bonds; and <br />WHEREAS, the Commission, being duly advised, now finds that it is in the best interests <br />of the City and its citizens for the purpose of financing all or any portion of the costs of the Projects <br />and other costs set forth above, to enter into negotiations with the South Bend Redevelopment <br />Authority (the “Authority”) to enter into a lease (the “Lease”) with the Authority, as Lessee, for <br />all or a portion of certain roads in the City as set forth at Exhibit A attached hereto in order to