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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – July 9, 2026 <br /> <br />Page | 4 <br /> <br />Commission approved Resolution No. 3675 as presented on July 9, <br />2026. <br /> <br />4. Public Hearing on Proposed Lease with South Bend Redevelopment <br />Authority (Redevelopment Authority Lease Rental Revenue Bonds, <br />Series 2026) <br />A notice was published in the South Bend Tribune on June 26, 2026, <br />regarding the public hearing on Proposed Lease with South Bend <br />Redevelopment Authority (Redevelopment Authority Lease Rental <br />Revenue Bonds, Series 2026). <br /> <br />A public hearing on Proposed Lease with South Bend Redevelopment <br />Authority for the Redevelopment Authority Lease Rental Revenue <br />Bonds, Series 2026, was opened for public comment. No comments were <br />made. The public hearing was then closed. <br /> <br />5. Resolution No. 3676 Authorizing the Execution of a Lease Between the <br />South Bend Redevelopment Authority and the South Bend <br />Redevelopment Commission and all Matters Related Thereto <br />(Redevelopment Authority Lease Rental Revenue Bonds, Series 2026) <br />Erik Glavich, Director of Growth & Opportunity, presented items 5A4 & <br />5 together. This resolution authorizes the execution of a lease <br />agreement between the South Bend Redevelopment Commission and <br />the South Bend Redevelopment Authority for the purpose of issuing <br />bonds. The Redevelopment Authority would serve as the bond issuer, <br />and this agreement establishes the legal framework necessary to <br />facilitate that issuance. <br /> <br />At the previous meeting, Joseph Molnar, Deputy Director of Community <br />Investment, reviewed the proposed projects in detail. The projects <br />identified for funding through this bond total approximately $24 million <br />and are focused on improvements that will benefit residents on the <br />City’s west side. These investments include significant community- <br />focused projects that will enhance amenities and services available to <br />residents. For example, funding would support the development of the <br />Rum Village Neighborhood Center, a need that was identified through <br />community engagement, as the neighborhood currently lacks a <br />dedicated community center. <br /> <br />We are excited about the impact these projects will have on west side <br />neighborhoods and the opportunities they will create for residents. <br /> <br />President Relos asked about the timeline and terms of the lease. Tom <br />Everett with Barnes & Thornburg, explained the lease agreement <br />between the Redevelopment Commission and the Redevelopment