02-09-15 Agenda, Packet and Committee Meeting Notice

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RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE EXECUTION OF A LEASE FOR CERTAIN LOCAL PUBLIC IMPROVEMENTS ON BEHALF OF THE CITY OF SOUTH BEND, INDIANA, AND REGARDING OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the "Commission "), governing body of the City of South Bend, Indiana, Department of Redevelopment (the 'Department ") and the Redevelopment District of the City of South Bend, Indiana (the "Redevelopment District "), exists and operates under the provisions of the Redevelopment of Cities and Towns Act of 1953 which has been codified in Indiana Code 36 -7 -14 of seq., as amended from time to time (the "Act "); and WHEREAS, the City of South Bend Redevelopment Authority (the "Authority ") has been created pursuant to Indiana Code 36 -7 -14.5 as a separate body corporate and politic, and as an instrumentality of the City of South Bend, Indiana (the "City "), to finance local public improvements for lease to the Commission pursuant to Section 25.2 of the Act and Indiana Code 36 -7 -14.5; and WHEREAS, the Commission has previously designated and declared an area in the City, known as the River West Development Area to be an economic development area and an allocation area (collectively, the "Area ") for the purpose of collecting tax increment finance revenues (the "TIF Revenues "), adopted an Economic Development Plan, and established an allocation fund for said Area; and WHEREAS, the Commission has been considering the need to finance the acquisition, construction and installation of certain local public improvements as part of the City's Smart Streets initiative and Westside Main Streets Revitalization Plan which local public improvements shall consist of all or any portion of the acquisition, construction and installation of the following: pavement, streetscape, and sidewalk improvements, bulb -out installation, street signage and markings, installation of bicycle facilities, road widening, intersection and traffic signal interconnection improvements, utility relocation, utility and sidewalk improvements, and installation of lighting and right -of -way improvements, all of which local public improvements are to be located along the following stretches of road: (i) Bartlett Street between Lafayette Blvd and Riverside Drive; (ii) Michigan Street between Riverside Drive and Barbie Street; (iii) Main Street between Park Lane and Barbie Street; (iv) St. Joseph Street between LaSalle Avenue and Western Avenue; (v) Lafayette Blvd between Park Lane and Indiana Avenue; (vi) Western Avenue between Michigan Street and Mayflower Road; (vii) Lincolnway West between West LaSalle Avenue and the City limits (Woodland Avenue); (viii) Marion and Madison Streets between Michigan Street and Lincolnway West; and (ix) any cross streets related to the foregoing stretches and various expenses related thereto (collectively, the "Project"); and US.55608791.02