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t <br />WHEREAS, Kite Realty Group. L.P. has proposed a mixed use development <br />commonly known as the Eddy Street Commons development encompassing approximately <br />twenty-three (23) acres located in the City of South Bend adjacent to the University of Notre <br />Dame campus and which mixed use development is proposed to include the following: retail <br />shops, apartment homes, office space, one full service hotel with conference facilities and three <br />floors of condominiums, one limited service hotel, condominium homes in four different product <br />types, open space and a parking garage structure (collectively, the "Development"); and <br />WHEREAS, the Authority intends to issue bonds in an aggregate principal <br />amount not to exceed Thirty Six Million and 00/100 Dollars ($36,000,000.00) pursuant to IC 36- <br />7-14.5-19 to be known as the "South Bend Redevelopment Authority Lease Rental Revenue <br />Bonds of 2008 (Eddy Street Commons Project)" (the "Bonds"), the proceeds of which are to be <br />used to pay the expenses relating to certain local public improvements in support of the <br />Development in or serving the Area including, without limitation: a parking garage structure; <br />the reconstruction and/or the extension of Eddy, Burns, Georgians, Duey, and Napoleon Streets; <br />the upgrading and replacement of water mains, sanitary and storm sewers and site preparation; <br />the extension and upgrading of electrical, telephone and high speed Internet services; other <br />related services including, without limitation, engineering and geotechnieal testing; and related <br />improvements (collectively, the "Project"); and to pay the costs of issuance of the Bonds; and <br />WHEREAS, the Authority has entered into a lease between the Authority and the <br />Commission dated as of October 15, 2007 (the "Lease"), which Lease was heretofore approved <br />by this Commission, and pursuant to which the Authority shall lease to the Commission certain <br />local public improvements including, without limitation, the Project; and <br />BDDBOI 5080477v1 ' 2 <br />