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include,without limitation, site work, construction of up to two(2)public parking garages and <br />a skyway improvement, and any projects related to the foregoing (collectively, the "Beacon <br />District Improvements"), and (c) local public improvement projects in the River East <br />Development Area consisting of all or any portion of the following: (i) LaSalle Streetscape <br />which consists of a road diet with a focus on bike and pedestrian improvements from Martin <br />Luther King Boulevard to Eddy Street and any related improvements; (ii) Hill Street Trail <br />South Bend Avenue to LaSalle Street) which consists of Phase 2 of the Trail Project to <br />construct a shared use path and any related improvements to improve bicycle and pedestrian <br />facilities between the University of Notre Dame campus and the City's downtown; (iii) South <br />Bend Avenue (Hill Street to Notre Dame Avenue) and Hill Street Intersection which consists <br />of Phase 1 of the Trail Project to construct a shared use path and any related improvements to <br />improve bicycle and pedestrian facilities between the University of Notre Dame campus and <br />the City's downtown; (iv) Mishawaka Avenue Streetscape Improvements which consist of a <br />road diet and improved parking from Longfellow Street to Emerson Street, storm sewer <br />separation, and any related improvements; (v) Coquillard Splashpad which consists of <br />upgrading the splashpad at Coquillard Park to modern health, safety, and experiential <br />standards, and any related improvements; and (vi) all projects related to any of the projects <br />described in clauses (i) through and including (v) (clauses (i) through and including (vi), <br />collectively, the "River East Projects" and collectively with the River West Projects and the <br />Beacon District Improvements, the"Projects"); and <br />WHEREAS, the Commission has given consideration to (i) financing the cost of all or a <br />portion of the Projects; (ii) funding a debt service reserve fund or paying the cost of a reserve <br />surety, if necessary, in connection with the issuance of the Bonds (defined herein); and (iii) <br />paying costs incurred in connection with the issuance of the Bonds; and <br />WHEREAS, the Commission has determined that it would be beneficial to the District <br />and the City for the Commission to enter into a lease with the Authority pursuant to Section <br />25.2 of the Act and have the Authority issue its lease rental revenue bonds for a local public <br />improvement pursuant to Indiana Code 36-7-14.5-19; and <br />WHEREAS,the Projects are located within the boundaries of the District and will benefit <br />the residents of the City by providing future opportunities for new redevelopment and <br />economic development and job creation; and <br />WHEREAS, at a meeting held on December 19, 2022, following a public hearing held <br />pursuant to Section 25.2 of the Act, the Commission did adopt its Resolution No. 3565 (a) <br />finding (i) that the lease rental payments (the"Lease Rentals") to be paid by the Commission <br />to the Authority pursuant to a lease between the Commission and the Authority (the"Lease") <br />are fair and reasonable, (ii) that the terms of the Lease are based upon the value of the leased <br />premises which includes all or a portion of Portage Avenue in the City from its intersection <br />with Cleveland Road to its intersection with Angela Boulevard Center (the "Leased <br />Premises"),and(iii)the use of the Leased Premises throughout the term of the Lease will serve <br />the public purpose of the City and is in the best interests of its residents and (b) approving the <br />Lease in the form presented at the Commission meeting for the purpose of paying the principal <br />of and interest on the South Bend Redevelopment Authority Lease Rental Revenue Bonds of <br />2