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RESOLUTION NO. 3180 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING AND AUTHORIZING THE TRANSFER OF REAL PROPERTY TO JENNA HOTEL INVESTMENTS, LLC, A DELAWARE LIMITED LIABILITY COMPANY WHEREAS, the City of South Bend, Indiana, for the use and benefit of its Department of Redevelopment, owns a certain parcel of real estate situated in St. Joseph County, Indiana, in an area of the City of South Bend commonly referred to as the 1st Source Building and DoubleTree Hotel described as follows: SEE ATTACHED EXHIBIT "A" ("Real Estate ") which Real Estate was acquired for redevelopment purposes; and WHEREAS, pursuant to I.C. 36- 7 -14 -3, the South Bend Redevelopment Commission (`Coininission ") is the governing body of the City of South Bend Department of Redevelopment; and WHEREAS, the Commission adopted by Resolution No. 233 on the 10`" day of October, 1968, an Urban Renewal Plan for Urban Renewal Area R -66 which includes the Real Estate; and WHEREAS, the Commission adopted Resolution No. 591 designating the R -66 Project ( "Project') Area as an Urban Renewal Area, which Resolution was joined by the South Bend Common Council pursuant to Common Council Resolution No. 719 -79 dated September 24, 1979; and WHEREAS, the Project was designed to redevelop a blighted area of the City of South Bend by constructing an office building and hotel on the Real Estate; and WHEREAS, the actions taken by the Commission and the Council assisted the City in obtaining a United States Department of Housing and Urban Development ( "HUD ") grant in the amount of Seven Million Six Hundred Thousand Dollars ($7,600,000) (`UDAG ") in support of the Project; and WHEREAS, the UDAG funds when added to private funds provided Twenty -one Million Nine Hundred Sixty Thousand Dollars ($21,960,000) for the Project for the construction of an office building and hotel on the Real Estate; and WHEREAS, on October 1, 1979, the Commission along with FBT Bancorp., Inc., ( "FBT ") and Rahn Properties 11 (`Rahn ") entered into a Joint Development Agreement ( "JDA ") to implement the Project and utilize the UDAG funds and additional private resources to construct a bank/office building containing approximately one hundred sixty thousand (160,000) square feet (the "Office Building ") and a hotel containing approximately three hundred (300) rooms and related retail uses (collectively the "Hotel'); and Page 1 of 4