5A5 Resolution No. 3676 (Authorizing Execution Lease Rental Revenue Bonds) - Signed

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RESOLUTION NO. 3676 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE EXECUTION OF A LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION, AND ALL MATTERS RELATED THERETO WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the South Bend Department of Redevelopment 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, pursuant to declaratory resolutions previously adopted by the Commission and amended from time to time, has declared a certain area of the City of South Bend, Indiana (the “City”) known as the “River West Development Area” (the “Area”) as an economic development area and an allocation area under the Act and approved an economic development plan for the Area; and WHEREAS, the Commission has given consideration to undertaking local public improvement projects in the Area including all or any portion of the following: (i) Coal Line Trail Phase III which consists of the extension of the existing Coal Line Trail from Lincoln Way West to the Martin Luther King Jr. Dream Center, and any related improvements; (ii) College Street streetscape improvements in connection with Phase III of the Coal Line Trail, and any related improvements; (iii) infrastructure improvements consisting of roads, storm water, sewer, and water utility infrastructure improvements along or adjacent to Old Cleveland Road, and any related improvements; (iv) the acquisition, construction, renovation and equipping of a new Rum Village Neighborhood Center, and any related improvements; (v) acquisition of land in the near west side of the City for a new neighborhood park, and any related improvements; (vi) infrastructure improvements to support the redevelopment of the former Drewry’s property and improvements to the adjacent Muessel Grove Park, and any related improvements; (vii) acquisition, construction and equipping of a new parking garage structure attached to the Morris Performing Arts Center, and any related improvements; and (viii) all projects related to any of the projects described in clauses (i) through and including (vii) (clauses (i) through and including (viii), collectively, the “Projects”); and WHEREAS, the South Bend Redevelopment Authority (the “Authority”) has been established pursuant to the applicable provisions of Indiana Code 36-7-14.5 as a separate body corporate and politic, and as an instrumentality of the City to finance local public improvements for lease to the Commission; and WHEREAS, on June 25, 2026, the Commission at a duly advertised and noticed public meeting, adopted its Resolution No. 3674 approving a proposed form of lease (the “Lease”) with the Authority, as lessor, for all or a portion of certain roads in the City consisting of (i) Chapin Street from its intersection with Lincoln Way West to its intersection with Sample Street, (ii) Sample Street from its intersection with Chapin Street to its intersection with Mayflower Road, (iii) Colfax Avenue/Orange Street from its intersection with South Dr. Martin Luther King, Jr.