No. 2340 approving the development agreement with Historic Landmark Foundation of Indiana and other related matters

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• RI~SOLUT[ON NO. 2340 A RESOLUTION OF TIIE SOUTH BL+;Nll RI?,DF,VELOPMENT COMMISSION APPROVING T1-IE llF,VELOPMENT AGREEMENT WITH IIIS"CORK LANDI~'IARK FOUNDATION Or INDIANA, INC. AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission ("Cnnu~~ission~") is the governing body of the City of South Bend Department of Rcdcvclopmcnt established under the Ralcvclopmcnt of Cities and "Towns Act of 1953, as amended, being lndiana Code ~ 36-7-14-1 et sey. (the "i1 ct"); and WHEREAS, redevelopment and the stimulation of economic development are of benefit to the health and welt-arc of file people of Indiana and the citi~cns of the City of Soutl~~ Bend, lndiana (the "City"), arc public uses and purposes for which public money may be spent and arc a public utility and benefit; and WI11~R[~~\S, the Commission has the power and duty to investigate, study, and devclo~~ areas within the corporate boundaries of the South Bend Redevelopment District (the "Di.~tri~ct') that. the Commission has determined to be blighted, stagnant or deteriorating in order to encourage economic development and redevelopment; and WHEREAS, a certain property, previously known as the Education Center for the South Bend Community School Corporation (the °Schnnl Corj~oratinn"), is located at the southwest corner of Main and South Strccls and the southeast corner of Main and Bronson Streets within the City of South Bend, St. Joseph County, Indiana together with the parking lots associated with die same (the Education Center and related parking lots being collectively hereinafter referred to as the "EducaN~»~ Ce»Ier") which is more particularly described at Exhibit A, attached hereto and incorp«ratcd herein; and WHEREAS, the School Corporation, the City of South T3cnd, Indiana Board of Public Works (the "Board n/~ l~'nrk,~"), and the South Bend Redevelopment Commission ("Contmissinn") arc parties to a certain Amended and Restated Agreement ("it»7ended ,~~~reemc~nt") having an effective date oi~ November 19, 2004 and a certain C'irst Addendum to the Amended and Restated Agreement (the Amended Agreement and i~ first Addendum collectively rcicrred to hereafter as the "Agreemcnitc") having an effective date of .Tune 26, 2000; and WHEREAS, the AgreeiT~cnts include certain terms and conditions related to the disposition of the Education Center; and