No. 2454 approving a proposed Lease with the South Bend Redevelopment Authorityfor certain land and public improvements, approving preliminary plans, specifications and cost estimates, setting a public hearing on the proposed Lease (Century Center)

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enhancement to the upper level offices, and enhancement to the front of building and viewing park and related improvements (collectively, the "2008 Project"); and WHEREAS, there has been presented to the Commission at this meeting a form of proposed second addendum to the Lease with the Authority for lease of the 2008 Project; and WHEREAS, the preliminary plans, specifications and cost estimates for the 2008 Project have been filed with the Commission; and WHEREAS, the Commission desires to approve the proposed second addendum to the Lease and publish notice of public hearing and conduct a public hearing on the proposed second addendum to the Lease pursuant to Section 25.2 of the Act; and WHEREAS, after the public hearing, the Commission may adopt a reSOlutlOn pursuant to Section 25.2 of the Act authorizing the execution of the proposed second addendum to the Lease on behalf of the City of South Bend, Indiana (the "City"), if it finds that the service to be provided throughout the term of the proposed lease will serve the public purpose of the City and is in the best interests of its residents and the lease rental provided for is fair and reasonable; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1. The Commission hereby approves the preliminary plans, specifications and cost estimates which have been filed with the Commission and the form of second addendum to the Lease filed with the Commission and attached hereto as Exhibit A. 2. The Commission hereby determines that the 2008 Project is not a "controlled project" as such term is defined by Indiana Code 6-1.1-20-1.1 because the Commission reasonably expects to pay the lease payments from funds other than property taxes that are exempt from the levy limitations of Indiana Code 6-1.1-18.5, such other funds being tax increment and other revenues made available to the Commission for such purpose. 3. The Commission hereby schedules the public hearing on the second addendum to the Lease to be held at the special meeting of the Commission scheduled for June 13, 2008, at 10:00 a.m. (local time). 4. The Commission hereby authorizes the publication of a notice of public hearing on the second addendum to the Lease pursuant to Indiana Code 5-3-1. 5. The Secretary of the Commission is hereby directed to transmit to the Common Council a copy of this resolution and to file with said Common Council an approving ordinance for the purpose of said Common Council's finding, prior to execution of the proposed second addendum to the Lease, that the rental payments under the proposed second addendum to the Lease are fair and reasonable and approving the proposed second addendum to the Lease. • BDDBOI 5233022v1 - 2