Redevelopment Authority Agenda & Packet 08.12.2026

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issuance of the Bonds; (f) the maximum term of the Lease shall not exceed nineteen (19) years; and (g) interest on the Bonds may be capitalized or paid from the proceeds of the Bonds based upon the recommendation of the municipal advisor to the Authority; and WHEREAS, in order to provide a source of funding to pay the principal of and interest on the Bonds when due, the Authority and Commission have authorized a form of Lease dated as of July 1, 2026 (the “Lease”) providing for the lease of certain property in the City as more fully described in the Lease (the “Leased Premises”); and WHEREAS, the Board of Public Works holds certain real property located in the City described in Exhibit A (the "Property"); and WHEREAS, the Authority desires to acquire an interest in the Leased Premises for the purpose of leasing the Property pursuant to the terms of the Lease; and WHEREAS, in order to effectuate the bond transaction, the Board of Public Works desires to convey the Property to the Authority pursuant to I.C. § 36-1-11-8 and subject to the terms of this Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT AUTHORITY AS FOLLOWS: 1. The Authority hereby accepts the transfer of the Property from the Board of Public Works in accordance with I.C. § 36-1-11-8, the Act, pursuant to a quit claim deed in a form substantially similar to the document attached hereto as Exhibit A, conveying all of the Board of Public Works’ right, title, and interest in the Property to the Authority. 2. The Authority authorizes Erin Michaels of the City’s Department of Community Investment to deliver the Deed for recordation to the Office of the Recorder of St. Joseph County, Indiana and execute any other document necessary to affect the Authority’s acceptance of the Property from the Board of Public Works. 3. This Resolution will be in full force and effect upon its adoption by the Authority. Signature Page Follows