HomeMy WebLinkAbout5 EDC Public Legal Notice SBT 12.1.23LA Govt Public Notices
ment units on certain real
estate . !red by RealAnle'-
ach i on Ph"'ically
connected to
nthe River West
Development Area and the
River West Development Area
Allocation Area No. 1, and
eachpursuant to forgivable
pe
loagreements between Me
City Delta and ReolAmerica,
respectively (celleotively,
"Loon Agreements'). The
fulls to meet such additional
dA prapH.H.. Pre to be
provid0tl from TIF Revenues
(as defined in the Latin Agrees
haMs) on hand or to be on
nd, iunlor mid subordlnote M
my currently outstanding
bonds and my bonds issued in
the future on a parity with any
currently
outstanding bonds,
Pledged by the Commission.
You are invited W attend and
Participate in the Public hear.
The faregOig aumoorlmion is
an addition to all oppropri0
ims Provided ion in the exist.
int; budgel ant fax levy.
TOXPaY¢r5 Pearirg m Said
meelirlpm shall have the right to
be heardin respect to
said additional Pop roprie ion.
at
Ded December 1, 2023.
SOUTH BEND REDEVELOP.
MEN T COMMISSION
HSPAXLP 12/12023
SOUTH BEND ECONOMIC
DEVELOPMENT
COMMISSION
NOTICE OF PUBLIC
HEARING
The City of South Berta
('City') Economic
Development Commission
(•Commission^) will hold a
Public hearino ar l,:m a.m. on
December 11, 2023, or rhe
County/City Building, 13th
Floor, 227.
27 We51 Jeff— Blvd,
South Bend, Indiana o
Mtps://finYurl.com)E DC12112r2
3, recording Me funding of a
forgivable loan to Delta
Ventures Ltd., an Inch no
Nonprofit Corporation
(`DeveloPer-) and Mmreaux
LLC, which is under common
control, in the amount not to
exceed S2,300,0OD (-Loan-) to
be evidenced by the
Dewimer's Promissory note
(-Series 2023 Note°) to finance
rhe construction of site work
and IOrastructun9
improvements ("Local Public
Improvements°) needed M
serve the redevelopment arc!
develOPment of: (I) a four-
storY building containing at
leastsilly-five Mousom
(65,000) square feet which will
include the incorporation of Me
historic masonry features
arrvew e� tne�spmn Bend
and III) am mumof sixty
(60) total Pan rlmerd units of
which no fewer than twenty-
three (23) mortment units will
be exclusively available ion
tenants at fifty percent (50%)
or lower of Me area median
tme VA I-) and no fewer
han an additimal twenty-three
(23) amrlment units will be
zcl uslvely vailable far
tenants at eighty Percent
(80% or lower of on
certain real esfate acquired by
the Developer located
-4 at 505, 507, 511 and
513 5. Michigan Street, South
Bend, Indiana. !n or Phvsico1h,
mPecfed to Me River West
Development Area Allocation
Area No. 1 and to consider
whether making the Loam will
have n adverse cecetitive
effect nn any similar fmacilities
already cotructed or
oPerming in the City.
The Loan will be mode by the
City purswnt to IC 36-7-11.9, -
12 and -14, and an ordinance
adoptedby the Common
Council I"Loan Ordinance`).
The Loan will be evidenced by
the Series 2023 Note executed
by the Developer and as
otherwise Provided in the Loan
Agreement, of M December 1,
21,23, between the City and the
Developer and the Loan
Ordinance.
The public hearing on Me
Local Public Improvements is
being held pursuant to IC 3 7-
12-24. The public is nvi}ed to
attend antl comment on any of
the matters herein noted.
Written comments may at- be
submitted M the Secretary of
the Commission until 10:00
. on December 11,, , by
dell
verirg such c is te
Mary Brarinsky,o Debt. ot
Cmnmunhy Investment, 227
West Jefferson Blvd., Suite
14005, SWM Bend, Indiana, or
by Providing wriittencomments
at the hearing.
Dated: December 1, 2023
Friday, 12/01/2023 Page .B10 Copyright (c) 2023 South Bend Tribune, Edition 12/1/20
SOUTH BEND ECONOMIC
DEVELOPMENT
COMMISSION
HSPAXLP 1x 12/1/23
NOTICE TO TAXPAYERS OF
ADDITIONAL
APPROPRIATION
HEARINGS
SIfU1fe 15oh1tL^�`xANYfld 'b!^ Utd
https://ti nyurl.conVRsds.lop
mentOommission, to consider
appropriation in an othowt
not to exceed: (A) $2,300,000 to
fund a forolwble loan to Delta
Ventures Ltd., an Indiana
Nonprofit Corporation
I. Delta"I arxI Monreaux LLC,
antler co" .1' to
finance the redevelopment and
d_lopmem of: (i) a four•
stay building containing at
leastsixty-fiwf thousand
(65,000) square feet which will
include the in W""Otion of the
historic Oasonry features
Preserved by the hereinafter
do, ined Commission; and (ti) a
imum a sixty (60) total
apartment units of which no
Friday, 12/01/2023 Page .B10 Copyright (c) 2023 South Bend Tribune, Edition 12/1/20