No. 2387 approving a proposed Lease between the Redevelopment Authority, as Lessor, and the Recevelopment Commission, as Lessee, for certain land and public improvements, approving preliminary plans, specificatiosn and cost estimates, setting a public he

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• RESOLUTION NO. ~..~ ~ ~ RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING A PROPOSED LEASE BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY, AS LESSOR, AND THE REDEVELOPMENT COMMISSION, AS LESSEE, FOR CERTAIN LAND AND PUBLIC IMPROVEMENTS, APPROVING PRELIMINARY PLANS, SPECIFICATIONS AND COST ESTIMATES, SETTING A PUBLIC HEARING ON THE PROPOSED LEASE PURSUANT TO IC 36- 7-14-25.2, AND AUTHORIZING PUBLICATION OF NOTICE OF THE PUBLIC HEARING WHEREAS, the South Bend Redevelopment Commission (the "Commission"), governing body of the South Bend Department of Redevelopment and the South Bend Redevelopment District (the "Redevelopment District"), exists and operates under the provisions of Indiana Code 36-7-14, as amended from time to time (the "Act"); and WHEREAS, the Commission has adopted various resolutions (i) declaring certain real estate in the Redevelopment District, known as the Northeast Neighborhood Development Area (the "Area"), to be a redevelopment area within the meaning of the Act, determining that it would be of public utility and benefit to redevelop the Area pursuant to a development plan, as amended, and (ii) designating the entire Area as an allocation area ("Allocation Area No. 1 ") having boundaries as described in Declaratory Resolution No. 2016, as amended; and WHEREAS, the Commission has amended this designation so that a portion of the Area and Allocation Area No. 1 are deemed a housing program named the "Northeast Neighborhood Development Area Housing Program" and a housing allocation area named the "Northeast Neighborhood Development Area, Allocation Area #2" ("Allocation Area No. 2"); and WHEREAS, Kite Realty Group, L.P. has proposed a mixed use development commonly known as the Eddy Street Commons development encompassing approximately twenty-three (23) acres located in the City of South Bend adjacent to the University of Notre Dame campus and which mixed use development is proposed to include the following: retail shops, apartment homes, office space, one full service hotel with conference facilities and three floors of condominiums, one limited service hotel, condominium homes in four different product types, open space and a parking garage structure (collectively, the "Development"); and WHEREAS, the Commission desires to undertake certain local public improvements in support of the Development in or serving the Area including, without ~ooBOi a9os~s2~i