05-26 Ordinance 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 Colfax Corner ML, LLC Project

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;4c�pUTH 44, Filed in Clerk's Office / 0 Jan 21, 2026 U d Bianca Tirado ';,, PEACE a' City Clerk, South Bend, IN 1865 CITY OF SOUTH BEND DEPARTMENT OF COMMUNITY INVESTMENT January 21 St, 2026 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: Ordinance No. 05-26—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 Colfax Corner ML, LLC Project Dear President Lee and Councilmember Warner, Please find attached Ordinance No. 05-26 for first reading, which has been filed for the Common Council's consideration pursuant to Section 16 of Indiana Code 36-7-14. On December 18, 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 number of new allocation areas to support the redevelopment of property in the downtown area. These new allocation areas will be established prior to the establishment of a new Innovation Development District (IDD),which will capture incremental state sales and income tax within the district. Indiana Code 36-7-14 also requires that the South Bend Plan Commission approve the resolution adopted by the Redevelopment Commission. The Plan Commission is considering its resolution on January 26, 2026. Should the Common Council approve this ordinance, the issuance of these taxable economic development tax increment revenue bonds will support a transformative 1400 COUNTY-CrrY BUILDING•227 W.JEFFERSON BOULEVARD•SOUTH BEND,INDIANA 46601 PHONE 574/235-5898 • FAx 574/235-9892 • TTY 574/235-5567