2008-07-02 Resolution 170 - Laserfiche WebLink

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RESOLUTION NO. 170 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT AUTHORITY APPROVING A MODIFICATION TO A SECOND ADDENDUM TO LEASE FOR CERTAIN PUBLIC IMPROVEMENTS AND REGARDING OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the "Commission"), governing body of the South Bend Department of Redevelopment and the South Bend Redevelopment District (the "Redevelopment 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 has adopted various resolutions (i) declaring certain real estate in the Redevelopment District, known as the South Bend Central Development Area (the "Area"), to be a redevelopment area within the meaning of the Act, determining that it would be of public utility and benefit to redevelop the Area pursuant to a development plan, as amended, and (ii) designating the entire Area as an allocation area having boundaries as described in Declaratory Resolution No. 137, as amended; and WHEREAS, the Common Council of the City of South Bend (the "City") has • previously adopted an ordinance creating the South Bend Redevelopment Authority (the "Authority") pursuant to Indiana. Code 36-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the City of South. Bend, Indiana, to finance local public improvements for lease to the Commission; and WHEREAS, the Authority previously entered into a lease by and between the Authority and the Commission dated as of November 1, 1993, as amended by an addendum to lease dated as of June 3, 1994 (collectively, the "Lease"), which Lease was heretofore approved by the Commission, and pursuant to which the Authority leases to the Commission certain real estate and local public improvements at the Century Center; and WHEREAS, the Commission desires to .undertake certain local public improvements located in the Area including, without limitation, the following improvements to the Century Center: (i) the addition of skylight safety film, the replacement of boilers and chillers, repairs on Island Park, the replacement of the fire alarm and security systems, the renovation of seven (7) restrooms, the renovation of C Hall, the replacement of the roofs, site lighting additions, exterior masonry work, and additional enhancements to the building, grounds and streetscape including, but not limited to, street level and river level interior and exterior signage, enhancement to the upper level offices, and enhancement to the front of building and viewing park and related improvements (collectively, the "2008 Project"); and WHEREAS, on May 21, 2008, the Authority adopted its Resolution No. 167 indicating its intent to issue its lease rental revenue bonds to finance the costs of the renovation BDDBOI 5315903v 1