HomeMy WebLinkAbout5A2 Resolution No. 3652 EDC Loan 2025 (New Day Intake Center, Inc.) - SignedRESOLUTION NO. 3652
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION APPROPRIATING CERTAIN FUNDS IN CONNECTION
WITH A DIRECT LOAN TO THE DEVELOPER OF AN ECONOMIC
DEVELOPMENT FACILITY (LOW-BARRIER EMERGENCY SHELTER
PROJECT)
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 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 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 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; 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 into which all River West
TIF Revenues are deposited, all pursuant to and as described Section 39 of the Act, and (iv)
approved an economic development plan for the River West Development Area; 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
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Revenues”), (iii) created the River East Allocation Area 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; and
WHEREAS, New Day Intake Center, Inc., an Indiana nonprofit corporation (the
“Developer”), has informed the City that it desires to acquire and construct certain economic
development facilities within the meaning of Indiana Code 36-7-11.9 and 36-7-12 within the City
which will consist of 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, with
an approximate total development cost of Fourteen Million Dollars ($14,000,000) (collectively,
the “Project”), and has requested that the City make a loan to the Developer on a draw basis for
the purposes of financing or reimbursing the Developer for a portion of the costs of acquisition
and construction of the Project; and
WHEREAS, the Common Council of the City adopted its loan ordinance (the "Loan
Ordinance") on September 22, 2025, which Loan Ordinance authorizes the issuance and funding
of a forgivable loan from the City to the Developer on a draw basis (the "Loan") in the total
aggregate principal amount not to exceed Four Million Dollars ($4,000,000) to finance a portion
of the Project; and
WHEREAS, the Commission previously adopted its Resolution No. 3646 on August 14,
2025, determining, subject to appropriation thereof by the Commission, to make available (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 to simultaneously
reimburse the City for its costs incurred to fund each draw on the Loan to the Developer with
respect to the Project; and
WHEREAS, the Commission now desires to appropriate an amount not to exceed Four
Million Dollars ($4,000,000) consisting of (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, to fund draws on the Loan to the Developer with respect to the Project;
and
WHEREAS, notice has been given and this date a public hearing has been conducted
regarding such appropriation, as required by Indiana law;
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION, AS FOLLOWS:
SECTION 1. 1. An appropriation in an amount not to exceed Four Million Dollars
($4,000,000) is hereby made for the purpose of simultaneously reimbursing the City for
expenditures made, or to be made, by the City to fund draws on the Loan to the Developer with
respect to the Project, and the funds to meet this appropriation will be provided out of (i) South
Side TIF Revenues collected in the South Side Allocation Area in the amount $465,377, (ii) River
West TIF Revenues collected in the River West Allocation Area in the amount of $2,475,686, and
(iii) River East TIF Revenues collected in the River East Allocation Area in the amount of
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$1,058,937. Said appropriation shall be in addition to all other appropriations provided for in the
existing budget and tax levy.
SECTION 2. The officers of the Commission and the Controller of the City are
hereby directed to make any and all required filings, if any, with the Department of Local
Government Finance in connection with this resolution.
SECTION 3. The President, Vice President or any other officer or member of the
Commission are hereby authorized to take all such actions and to execute all such instruments as
are desirable to carry out the transactions contemplated by this resolution, in such forms as such
officer or member executing the same shall deem proper, to be conclusively evidenced by the
execution thereof.
SECTION 4. This Resolution shall be in full force and effect from and after its
passage.
ADOPTED at a meeting of the South Bend Redevelopment Commission held on
September 25, 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 49049349v1
LOCALSQ
South Bend Tribune I The Herald Times po Box 630485 Cincinnati, OH 45263-0485
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South Bend IN 46601-2130
STATE OF INDIANA, COUNTY OF ST JOSEPH
The South Bend Tribune, a newspaper printed and published in
the county of St Joseph, in the State of Indiana, and personal
knowledge of the facts herein state and that the notice hereto
annexed was Published in said newspaper in the issue dated:
09/05/2025
and that the fees charged are legal.
Sworn to and subscribed before on 09/05/2025
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THIS IS NOT AN INVOICE!
Please do not use this Jonn for payment remittance.
NOTICE OF PUBLIC HEARING
CONCERNING AN
ADDITIONAL
APPROPRIATION OF THE
CITY OF SOUTH BEND
REDEVELOPMENT
COMMISSION
The residents end taxpayers
of the City of South 8ertd»
Indiana (the 'City')* are
hereby notified that the South
Bend Redevelopment
Commission (the 'Commis-
siort*) will hold a public hear>
inp at 9:30 a.m. (local time),
or> Tliursdoy, September 2S,
2035, in Room 1308, at the
County«City Building, 237
West Jefferson Boulevard,
South Bend. Indiana, to
consider an appropriation in
an amount not to exceed
S4.000.000 for the purpose of
simultaneously reimbursing
the City for expenditures
made, or to be made, by the
City to fund a forgivable draw
loan (the "Loan') from the City
to New Day Intake Center, Inc.,
an Indiana nonproKt corpora*
lion (the 'Oevoloper'). The
City is making the Loan to the
Ooveloper to finance a portion
of the construction of
economic development
projects and facilities within
the meaning of Indiana Code
36*7*11.9 and 36*7*12,
consisting of 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 (collectively. the
'Project"), pursuant to a
forgivable loan agreement
between the City and the
Developer (the 'Loan Agree*
ment'). Pursuant to a Funding
and Reimbursement Agree
ment between the City and
the Commission, the Commis*
sion will use tax increment
revenues on deposit in the
allocation funds for the (i)
South Side Allocation Area of
the South Side Development
Area, (il) River West Allocation
Area of the River West Devel
opment Area, and (ill) River
East Allocation Area of the
River East Development Area,
for the purpose of simultane
ously reimbursing the City for
expenditures (including loans)
made, or to be made, to
finance a portion of the
Project costs.
Said appropriation is in addi
tion to any appropriations
provided for in the existing
budget and tax levy. At said
public hearing, all persons
shall have the right to appear
and be heard on the necessity
of said appropriation.
Dated: September S. 2025
SOUTH BEND
REDEVetOPMENT
COMMISSION
HSPAXLP 9:5 1x
nancy heyrman
Notary Public
State of Wisconsin
Page 1 of 2
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