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LEASE AGREEMENT <br />THIS LEASE AGREEMENT, made and dated as of this 1 st day of July, 2026, by and <br />between the SOUTH BEND REDEVELOPMENT AUTHORITY (the "Lessor"), a separate body <br />corporate and politic organized and existing under the provisions of I.C. 36-7-14.5 as an <br />instrumentality of the City of South Bend, Indiana (the "City"), and the CITY OF SOUTH BEND <br />REDEVELOPMENT COMMISSION (the "Lessee"), the governing body of the City of South <br />Bend, Department of Redevelopment, acting for and on behalf of the City. <br />WITNESSETH: <br />WHEREAS, the City has created the Lessor under and pursuant to the provisions of I.C. <br />36-7-14, I.C. 36-7-14.5 and I.C. 36-7-25 (collectively, the "Act"), for the purpose of financing, <br />constructing, acquiring and leasing to the Lessee certain local public improvements and <br />redevelopment and economic development projects; and <br />WHEREAS, the City has created the Lessee to undertake redevelopment and economic <br />development in the City in accordance with the Act; and <br />WHEREAS, the Lessee is the governing body of the South Bend Department of <br />Redevelopment and the Redevelopment District of the City (the "District") which District is <br />coterminous with the boundaries of the City; and <br />WHEREAS, in accordance with prior resolutions adopted by the Lessee, the Lessee has <br />designated a certain area of the City known as the "River West Development Area" (the "Area") <br />as an economic development area under the Act and approved an economic development plan for <br />the Area (the "Plan"); and <br />WHEREAS, the Lessee has given consideration to undertaking local public improvement <br />projects in the Area including all or any portion of the following: (i) Coal Line Trail Phase III <br />which consists of the extension of the existing Coal Line Trail from Lincoln Way West to the <br />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 Projects will foster economic development and redevelopment and <br />improved employment opportunities throughout the District, including the Area; and <br />