HomeMy WebLinkAbout5A1 Resolution No. 3538 Preliminarily Approving Lease - City of South Bend Morris Performing Arts Center Project
RESOLUTION NO. 3538
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROVING A PROPOSED LEASE WITH THE SOUTH
BEND REDEVELOPMENT AUTHORITY RELATING TO THE MORRIS
PERFORMING ARTS CENTER PROJECT, AUTHORIZING
PUBLICATION OF NOTICE OF PUBLIC HEARING IN CONNECTION
THEREWITH, AND ALL MATTERS RELATED THERETO
WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the
governing body of the South Bend Department of Redevelopment and the Redevelopment District
of the City of South Bend, Indiana (the “District”), exists and operates under the provisions of
Indiana Code 36-7-14, as amended from time to time (the “Act”); and
WHEREAS, the City has determined to undertake certain improvements to the Morris
Performing Arts Center (the “Performing Arts Center”) consisting of certain energy savings
improvements, renovations of the floor and seating, and certain other improvements at the
Performing Arts Center (collectively, the “Project”); and
WHEREAS, the Commission has given consideration to (i) financing the cost of all or a
portion of the Project; (ii) funding a debt service reserve fund, if necessary in connection with the
issuance of the Bonds (defined herein); and (iii) paying costs incurred in connection with the
issuance of the Bonds; and
WHEREAS, the Commission, being duly advised, now finds that it is in the best interests
of the City and its citizens for the purpose of financing the Project to enter into negotiations with
the South Bend Redevelopment Authority (the “Authority”) to enter into a lease (the “Lease”) with
the Authority, as Lessor, for the Project, in order to better serve the residents of the City; and
WHEREAS, the form of the proposed Lease has been presented to the Commission at this
public meeting; and
WHEREAS, after the duly conducted public hearing, the Commission may adopt a
Resolution pursuant to Section 25.2 of the Act authorizing the execution of the proposed Lease on
behalf of the City if it finds that the service to be provided throughout the term of the proposed
Lease will serve the public purpose of the City, is in the best interests of its residents, and that the
Lease rentals provided for are fair and reasonable; and
WHEREAS, the Commission expects that the Authority will consider adoption of a
resolution authorizing the issuance its lease rental revenue bonds (the “Bonds”) in one (1) or more
series for the purpose of financing all or a portion of the costs of the Project and costs related
thereto;
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND, INDIANA,
REDEVELOPMENT COMMISSION, AS FOLLOWS:
SECTION 1. The Commission hereby preliminary approves the proposed Lease
between the Authority and the Commission in the form presented at this public meeting. The
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Commission hereby sets the public hearing on the Lease for Monday, November 22, 2021, at 9:30
a.m., Room 1308 of the County-City Building, located at 227 West Jefferson Boulevard, South
Bend Indiana, or at such other time and/or place as any Officer of the Commission shall determine.
The Commission hereby authorizes the publication of a notice of the public hearing on the Lease
pursuant to applicable Indiana law and in the form authorized by any Officer of the Commission.
SECTION 2. This Resolution shall take effect, and be in full force and effect,
upon passage and approval by the Commission, in conformance with applicable law.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
November 8, 2021, in Room 1308, County-City Building, 227 West Jefferson Boulevard, South
Bend, Indiana, 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Marcia I. Jones, President
ATTEST:
Troy Warner, Secretary
DMS 21235680v1