5177-26 Resolution Approving a Lease Between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission and Taking Other Actions Related Thereto

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