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<br />DMS 52739115.3 <br />NOTICE OF PUBLIC HEARING OF THE <br />SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION <br /> <br />Notice is hereby given that the South Bend Economic Development Commission (the <br />“Commission”) will hold a public hearing on Thursday, June 18, 2026, at 1:00 p.m., in the Council <br />Chambers located on the 3rd floor of South Bend City Hall, 215 S. Dr. Martin Luther King, Jr. <br />Blvd., South Bend, Indiana, concerning the funding of a forgivable loan to Beacon Apartments <br />Preservation LLC, an Indiana limited liability company (the “Developer”), in an amount not to <br />exceed $1,250,000 (the “Loan”) to be evidenced by the Developer’s promissory note (the “Note”) <br />to finance a portion of the construction, renovation and/or rehabilitation of economic development <br />projects and facilities within the meaning of Indiana Code 36-7-11.9 and 36-7-12 (the “Act”), <br />consisting of the construction, renovation and/or rehabilitation up to one hundred seventy (170) <br />affordable housing units in the existing Beacon Heights development in the River West <br />Development Area in the City of South Bend, Indiana (the “City”), with an approximate total <br />redevelopment cost of Forty-Seven Million Dollars ($47,000,000) including a private investment <br />of no less than Forty-Seven Million Dollars ($47,000,000) to be expended by the Developer <br />(collectively, the “Project”). <br />The Loan will be made by the City pursuant to the Act, an ordinance (the “Loan <br />Ordinance”) proposed for adoption by the Common Council of the City (the “Council”), a <br />Financing and Loan Agreement between the City and the Developer (the “Loan Agreement”), and <br />a Funding and Reimbursement Agreement between the City and the South Bend Redevelopment <br />Commission (the “Funding Agreement” and with the Loan Ordinance and the Loan Agreement, <br />collectively, the “Financing Agreements”). <br />Copies of the form of the Financing Agreements will be on file with the Clerk of the City <br />and are available for public inspection at the office of the Clerk of the City during regular business <br />hours daily, except Saturdays, Sundays and legal holidays. <br /> At the time and place fixed for the public hearing, all taxpayers, residents or interested <br />persons will be given an opportunity to express their views for or against the proposed financing <br />for the Project in writing or in person. Following the public hearing, the Commission will consider <br />whether the financing of the Project will have an adverse competitive effect on any similar <br />facilities already constructed or operating in the City. If the Commission shall find for itself and <br />on behalf of the City that the proposed financing will be of benefit to the health and welfare of the <br />City and complies with the purposes and provisions of the Act, the Commission will adopt a <br />resolution approving the proposed financing and the form of the Financing Agreements, including <br />the Loan in the aggregate principal amount not to exceed One Million Two Hundred Fifty <br />Thousand Dollars ($1,250,000), and the form of the proposed Loan Ordinance to be recommended <br />to the Council for adoption. <br /> SOUTH BEND ECONOMIC <br /> DEVELOPMENT COMMISSION <br />[ PUBLISHED IN THE SOUTH BEND TRIBUNE ON MONDAY, JUNE 8, 2026]