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• <br />RESOLUTION NO. 2394 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROVING A DEVELOPMENT AGREEMENT WITH DOUGLAS ROAD RETAIL <br />PARTNERS, L.P., DOUGLAS ROAD PARTNERS, L.P. AND THE CITY OF SOUTH <br />BEND, INDIANA AND OTHER RELATED MATTERS <br />WHEREAS, the South Bend Redevelopment Commission ("Commission") is the <br />governing body of the City of South Bend Department of Redevelopment established under the <br />Redevelopment of Cities and Towns Act of 1953, as amended, being Indiana Code § 36-7-14-1 <br />et seq. (the "Act"); and <br />WHEREAS, redevelopment and the stimulation of economic development are of benefit <br />to the health and welfare of the people of Indiana and the citizens of the City of South Bend, <br />Indiana (the "City"), are public uses and purposes for which public money may be spent and are <br />a public utility and benefit; and <br />• WHEREAS, the Commission has the power and duty to investigate, study, and develop <br />areas within the corporate boundaries of the South Bend Redevelopment District (the "District") <br />that the Commission has determined to be blighted, stagnant or deteriorating in order to <br />encourage economic development and redevelopment; and <br />WHEREAS, on December 2, 2005, the Commission adopted its Resolution No. 2199, <br />designating the Douglas Road Economic Development Area ("Area") as an economic <br />development area and as a tax increment financing allocation area in accordance with the Act, <br />which was confirmed by the Commission's adoption of its Resolution No. 2206 on February 17, <br />2006; and <br />WHEREAS, DRP is a limited partnership, in good standing in the state of its origin and <br />authorized to do business in the State of Indiana; and <br />WHEREAS, DRP represents and warrants that is the owner of the property commonly <br />described as 3355 Douglas Road, South Bend, Indiana 46635, currently leased, at least in part, to <br />an entity affiliated with Memorial Hospital of South Bend, Indiana (the "Memorial Building"); <br />and <br />WHEREAS, Developer is a limited partnership, in good standing in the state of its origin <br />and authorized to do business in the State of Indiana; and <br />• WHEREAS, Developer owns, controls, or has developed a significant amount of area <br />with the Area and desires to provide for its further development; and <br />