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Home My WebLink About5A4 Resolution No. 3646 Approving Use of TIF Revenues to Reimburse City NDIC - SignedRESOLUTION NO. 3646 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE USE OF SOUTH SIDE TIF REVENUES, RIVER WEST TIF REVENUES AND RIVER EAST TIF REVENUES FOR A LOW-BARRIER EMERGENCY SHELTER PROJECT AND REGARDING OTHER RELATED MATTERS 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, exists and operates under the provisions of Indiana Code 36- 7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission is committed to improving the City of South Bend, Indiana (the “City”) by administering and funding projects that support economic development and public infrastructure, and are in the best interests of the health, safety, and welfare of the City and its residents; and WHEREAS, the Commission has negotiated a development agreement (the “Development Agreement”) with New Day Intake Center, Inc., an Indiana nonprofit corporation (the “Developer”), pursuant to which the Developer proposes to undertake the construction, renovation or rehabilitation of certain real property in the City to develop a no less than one hundred and ten (110) bed lower-barrier emergency shelter as further described in the Development Agreement (collectively, the “Project”); and WHEREAS, the Commission has previously adopted a declaratory resolution, as subsequently confirmed and amended, which (i) declared the South Side Development Area (the “South Side Development Area”) as a redevelopment area pursuant to Section 15 of the Act, (ii) designated the South Side Development Area as an allocation area pursuant to Section 39 of the Act (the “South Side Allocation Area”), for the purpose of capturing property tax proceeds derived from incremental assessed valuation of real property in such allocation area which is in excess of the “base assessed value” (such property tax proceeds, hereinafter referred to as “South Side TIF Revenues”), (iii) created the South Side Allocation Area Fund (the “South Side Allocation Fund”) into which all South Side TIF Revenues are deposited, all pursuant to and as described Section 39 of the Act, and (iv) approved a development plan for the South Side Development Area (the “South Side Plan”); and WHEREAS, the Commission has previously adopted a declaratory resolution, as subsequently confirmed and amended, which (i) declared the River West Development Area (the “River West Development Area”) as an economic development area pursuant to Section 41 of the Act, (ii) designated the River West Development Area as an allocation area pursuant to Section 39 of the Act (the “River West Allocation Area”), for the purpose of capturing property tax proceeds derived from incremental assessed valuation of real property in such allocation area which is in excess of the “base assessed value” (such property tax proceeds, hereinafter referred to as “River West TIF Revenues”), (iii) created the River West Allocation Area Fund (the “River West Allocation Fund”) into which all River West TIF Revenues are deposited, all pursuant to and as 2 described Section 39 of the Act, and (iv) approved an economic development plan for the River West Development Area (the “River West Plan”); and WHEREAS, the Commission has previously adopted a declaratory resolution, as subsequently confirmed and amended, which (i) declared the River East Development Area (the “River East Development Area”) as a redevelopment area pursuant to Section 15 of the Act, (ii) designated the River East Development Area as an allocation area pursuant to Section 39 of the Act (the “River East Allocation Area”), for the purpose of capturing property tax proceeds derived from incremental assessed valuation of real property in such allocation area which is in excess of the “base assessed value” (such property tax proceeds, hereinafter referred to as “River East TIF Revenues” and together with the South Side TIF Revenues and the River West TIF Revenues, the “TIF Revenues”), (iii) created the River East Allocation Area Fund (the “River East Allocation Fund”) into which all River East TIF Revenues are deposited, all pursuant to and as described Section 39 of the Act, and (iv) approved a development plan for the River East Development Area (the “River East Plan”); and WHEREAS, under the terms of the proposed Development Agreement, the Commission would agree to contribute (i) South Side TIF Revenues in the amount $465,377, (ii) River West TIF Revenues in the amount of $2,475,686, and (iii) River East TIF Revenues in the amount of $1,058,937, subject to appropriations thereof, toward the cost of the Project, subject to the completion of all procedures required by law; and WHEREAS, the Commission has sufficient South Side TIF Revenues on deposit in the South Side Allocation Fund to contribute South Side TIF Revenues toward costs of the Project as provided in the Development Agreement, which will directly serve and benefit the South Side Allocation Area; and WHEREAS, the Commission has sufficient River West TIF Revenues on deposit in the River West Allocation Fund to contribute River West TIF Revenues toward costs of the Project as provided in the Development Agreement, which will directly serve and benefit, or be physically located in or connected to, the River West Allocation Area; and WHEREAS, the Commission has sufficient River East TIF Revenues on deposit in the River East Allocation Fund to contribute River East TIF Revenues toward costs of the Project as provided in the Development Agreement, which will directly serve and benefit the River East Allocation Area; and WHEREAS, the Commission now desires to agree to contribute a total amount of not to exceed (i) $465,377 of South Side TIF Revenues, (ii) $2,475,686 of River West TIF Revenues, and (iii) $1,058,937 of River East TIF Revenues, subject to appropriations thereof, toward the cost of the Project all as described in the Development Agreement and subject to the completion of all procedures required by law, and authorize and approve other actions related thereto, subject to the terms and conditions set forth below; 3 NOW, THEREFORE, BE IT RESOLVED BY THIS SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: SECTION 1. The Commission hereby finds and determines that the Project, and the use of South Side TIF Revenues to contribute to the Project as described herein, directly serves and benefits the South Side Allocation Area, furthers the purposes for which the South Side Development Area was created, and helps accomplish the South Side Plan. SECTION 2. The Commission hereby finds and determines that the Project, and the use of River West TIF Revenues to contribute to the Project as described herein, directly serves and benefits the River West Allocation Area, furthers the purposes for which the River West Development Area was created, and helps accomplish the River West Plan. SECTION 3. The Commission hereby finds and determines that the Project, and the use of River East TIF Revenues to contribute to the Project as described herein, directly serves and benefits the River East Allocation Area, furthers the purposes for which the River East Development Area was created, and helps accomplish the River East Plan. SECTION 4. The Commission hereby authorizes the contribution of not to exceed (i) $465,377 of South Side TIF Revenues, (ii) $2,475,686 of River West TIF Revenues, and (iii) $1,058,937 of River East TIF Revenues, subject to appropriations thereof, toward the cost of the Project, subject to the completion of all procedures required by law. The use of TIF Revenues as described herein shall be junior and subordinate to any currently outstanding or future bonds or lease obligations, if any, of the Commission payable from the applicable TIF Revenues. SECTION 5. The Commission hereby authorizes a public hearing to be held on the appropriation of (i) $465,377 of South Side TIF Revenues, (ii) $2,475,686 of River West TIF Revenues, and (iii) $1,058,937 of River East TIF Revenues to provide funding to reimburse the City for draws on the loan between the City and the Developer as described in the Development Agreement and further authorizes the staff of the Department of Community Investment, with assistance from counsel, to cause the notice of such hearing to be published and posted as required by law. SECTION 6. This resolution shall take effect immediately upon adoption by the Commission. 4 ADOPTED at a meeting of the South Bend Redevelopment Commission held on August 14, 2025, in Room 1308, County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana, 46601. SOUTH BEND REDEVELOPMENT COMMISSION By: Troy Warner, President ATTEST: Eli Wax, Secretary DMS 48567412v1