No. 2394 approving a Development Agreement with Douglas Road Retail Partners L.P., Douglas Road Partners L.P. and the City of South Bend, Indiana and other related matters

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• DEVELOPMENT AGREEMENT By and Among SOUTH BEND REDEVELOPMENT COMMISSION, CITY OF SOUTH BEND, INDIANA, DOUGLAS ROAD RETAIL PARTNERS, L.P., DOUGLAS ROAD PARTNERS, L.P. THIS DEVELOPMENT AGREEMENT, (the or this "Agreement" or "Development Agreement") dated as of the 8th day of November, 2007, is made and entered into between the SOUTH BEND REDEVELOPMENT COMMISSION, having its office at 1200 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601 ("Commission"), the CITY OF SOUTH BEND, INDIANA, by and through the City of South Bend, Indiana Board of Public Works having its office at 1300 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601 (the "Board" and with the Commission, the "City"), DOUGLAS ROAD PARTNERS, L.P., an Indiana limited partnership (the "DRP"), and having its principal place of business at 227 South Main Street, Suite 300, South Bend, Indiana 46601, and DOUGLAS ROAD RETAIL PARTNERS, L.P., an Indiana limited partnership (the "Developer"), and having its principal place of business at 227 South Main Street, Suite 300, South Bend, Indiana 46601. RECITALS WHEREAS, pursuant the authority granted by Indiana Code § 36-7-14 (the "Act"), the Commission has the power and duty to investigate, study, and develop areas within the corporate boundaries of the City of South Bend, Indiana that the Commission has established as an economic development area; and WHEREAS, on December 2, 2005, the Commission adopted its Resolution No. 2199, designating the Douglas Road Economic Development Area ("Area") as an economic development area and as a tax increment financing allocation area in accordance with the Act, which was confirmed by the Commission's adoption of its Resolution No. 2206 on February 17, 2006; and •