5A3 Development Agreement (New Day Intake Center) - Signed

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2 WHEREAS, the Commission believes that accomplishing the Project as described herein is in the best interests of the health, safety, and welfare of the City and its residents; and WHEREAS, the Commission desires to facilitate and assist the Project by undertaking to simultaneously reimburse the City for its costs incurred or to be incurred in providing draws on a loan pursuant to a certain loan agreement (the “Loan Agreement”) that the Parties anticipate the Developer and the City executing pursuant to Indiana Code 36-7-12 to fund in part certain local public improvements stated in Exhibit C (the “Local Public Improvements”) in accordance with the Act, subject to the terms and conditions of this Agreement and the certain Loan Agreement. NOW, THEREFORE, in consideration of the mutual promises and obligations stated in this Agreement, the adequacy of which is hereby acknowledged, the Parties agree as follows: SECTION 1. DEFINITIONS. Unless otherwise defined in this Agreement, capitalized terms used in this Agreement have the following meanings: 1.1 Assessed Value. “Assessed Value” means the market value-in-use of a property, used for property tax assessment purposes as determined by the St. Joseph County Assessor. 1.2 Board of Works. “Board of Works” means the Board of Public Works of the City, a public body granted the power to award contracts for public works pursuant to I.C. 36-1-12. 1.3 Funding Amount. “Funding Amount” means an amount not to exceed Four Million Dollars ($4,000,000.00) consisting of tax increment finance revenues to be provided to the City by the Commission subject to annual appropriation by the Commission to simultaneously reimburse the City for its costs incurred, or to be incurred through the Loan Agreement that will be subsequently executed by the Parties, to make the Loan on a draw basis pursuant to the terms of the Loan Agreement which will be used for paying a portion of the costs associated with the construction, equipping, inspection, and delivery of the Local Public Improvements. 1.4 Private Investment. “Private Investment” means an amount no less than Ten Million Dollars ($10,000,000.00) to be expended by the Developer for the costs associated with constructing the improvements set forth in the Project Plan, including architectural, engineering, and any other costs directly related to completion of the Project that are expected to contribute to increases in the Assessed Value of the Developer Property. The Private Investment does not include the Funding Amount. 1.5 Lower-Barrier Shelter: “Lower-Barrier Shelter” means an emergency shelter that minimizes entry requirements, allowing access without preconditions such as sobriety, employment, identification, or participation in treatment programs, except where needed for safety. 1.6 Diversion: “Diversion” means a strengths-based, problem-solving conversation conducted at shelter entry to identify safe alternatives to shelter.