08-25 Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respec Thereto in Connection With the J. C. Hart Development Project

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Filed in Clerk's Office (coUTII 5,1 Bianca Tirado 1 PEAC a E ' City Clerk, South Bend, IN 1865 CITY OF SOUTH BEND DEPARTMENT OF COMMUNITY INVESTMENT February 19th, 2025 Councilmember Canneth Lee Councilmember Troy Warner President Chairperson South Bend Common Council Community Investment Committee County-City Building,4th Floor South Bend Common Council South Bend, Indiana 46601 County-City Building,4th Floor South Bend, Indiana 46601 RE: Bill No. 08-25 —An Ordinance of the Common Council of the City of South Bend, Indiana, Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respect Thereto in Connection With the J.C. Hart Development Project Dear President Lee and Councilmember Warner, Please find attached Bill No. 08-25 for first reading, which has been filed for the Common Council's consideration pursuant to Section 16 of Indiana Code 36-7-14. On January 9, 2025, the South Bend Redevelopment Commission approved and adopted a resolution that would amend the River West Development Area for the purpose of establishing a new allocation area to support the redevelopment of property on the west bank of the St. Joseph River south of Jefferson Boulevard. The new allocation area would be known as the "Riverwalk Allocation Area"and includes the southern Crowe building and adjacent surface parking lot;the northern Crowe building would not be included. Indiana Code 36-7-14 also requires that the South Bend Plan Commission approve the resolution adopted by the Redevelopment Commission. The Plan Commission approved and adopted its resolution on January 21,2025. The Common Council adopted that resolution at its February 10, 2025, meeting. The issuance of these taxable economic development tax increment revenue bonds will support a 1400 COUNTY-CITY BUILDING•227 W.JEFFERSON BOULEVARD•SOUTH BEND,INDIANA 46601 PHONE 574/235-5898 • FAX 574/235-9892 • TTY 574/235-5567