No. 2344 establishing a housing program and housing allocation area in the Northeast Neighborhood Development Area

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EXHIBIT A The intent of the Northeast Neighborhood Development Area Housing Program and Allocation Area #2 Declaration is to establish a Residential Tax Increment Finance Allocation Area and a Housing Program, as permitted by IC 36-7-14-45 through IC 36-7-14-48, to redevelop a specific area within the Northeast Neighborhood Development Area. As a function of the designation of the Northeast Neighborhood Development Area Housing Program, the TIF Allocation Area created by Resolution 2016 of the South Bend Redevelopment Commission on November 17, 2003, will be divided into two TIF Allocation Areas. A legal description for TIF Allocation Area #2 is included with this document as Exhibit B. As a provision of the designation of this Housing Program and Allocation Area #2 and as permitted by IC 36-7-14-48(a), all real property tax increment generated by both residential and commercial development will be collected and used to further the Development Plan for the Northeast Neighborhood Development Area, specifically as it relates to the Housing Program and as otherwise permitted by statute. Within the Northeast Neighborhood Development Area Housing Program and Allocation Area #2, three main Redevelopment Project Areas have been delineated for planning purposes. The areas are as follows: Eddv Street C'omiTtons Project is the project name fora 26 acre section of the redevelopment area that will be master developed in a multi-use, urban format with uses including but nc~t limited to general commercial, office, multi-format residc:.ntial, hotel, structured and surface parking, and limited public and open space. This project is being master developed by Indianapolis-based Kite Realty Group in partnership with the University of Notre Dame. Five Points Proiect is the project name for a future retail commercial node development in the area currently and commonly known as the Five Points intersection. Uses in this area could include but are not limited to general commercial, office, multi-format residential, structured and surface parking, and limited public and open space. This project area is dependant on the realigmment of the five points intersection area to make available the land areas necessary to create the development sites. Triangle Residential Proiect or also described in the Northeast Neighborhood Development Plan as the Geor~iana-Talbot Residential Redevelopment Area is the redevelopment of a 15 acre section of the redevelopment area currently and commonly referred to as the Triangle. The goal of this redevelopment area is to remove all blighting and non-conforming properties and land uses, and develop a new mixed income neighborhood. A frill explanation of the Housing Program plan can be found in Exhibit C. 1 BDDB01 4766100v2