5A4 Resolution No. 3646 Approving Use of TIF Revenues to Reimburse City NDIC - Signed

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RESOLUTION NO. 3646 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE USE OF SOUTH SIDE TIF REVENUES, RIVER WEST TIF REVENUES AND RIVER EAST TIF REVENUES FOR A LOW-BARRIER EMERGENCY SHELTER PROJECT AND REGARDING OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the South Bend Department of Redevelopment and the Redevelopment District of the City of South Bend, Indiana, exists and operates under the provisions of Indiana Code 36- 7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission is committed to improving the City of South Bend, Indiana (the “City”) by administering and funding projects that support economic development and public infrastructure, and are in the best interests of the health, safety, and welfare of the City and its residents; and WHEREAS, the Commission has negotiated a development agreement (the “Development Agreement”) with New Day Intake Center, Inc., an Indiana nonprofit corporation (the “Developer”), pursuant to which the Developer proposes to undertake the construction, renovation or rehabilitation of certain real property in the City to develop a no less than one hundred and ten (110) bed lower-barrier emergency shelter as further described in the Development Agreement (collectively, the “Project”); and WHEREAS, the Commission has previously adopted a declaratory resolution, as subsequently confirmed and amended, which (i) declared the South Side Development Area (the “South Side Development Area”) as a redevelopment area pursuant to Section 15 of the Act, (ii) designated the South Side Development Area as an allocation area pursuant to Section 39 of the Act (the “South Side Allocation Area”), for the purpose of capturing property tax proceeds derived from incremental assessed valuation of real property in such allocation area which is in excess of the “base assessed value” (such property tax proceeds, hereinafter referred to as “South Side TIF Revenues”), (iii) created the South Side Allocation Area Fund (the “South Side Allocation Fund”) into which all South Side TIF Revenues are deposited, all pursuant to and as described Section 39 of the Act, and (iv) approved a development plan for the South Side Development Area (the “South Side Plan”); and WHEREAS, the Commission has previously adopted a declaratory resolution, as subsequently confirmed and amended, which (i) declared the River West Development Area (the “River West Development Area”) as an economic development area pursuant to Section 41 of the Act, (ii) designated the River West Development Area as an allocation area pursuant to Section 39 of the Act (the “River West Allocation Area”), for the purpose of capturing property tax proceeds derived from incremental assessed valuation of real property in such allocation area which is in excess of the “base assessed value” (such property tax proceeds, hereinafter referred to as “River West TIF Revenues”), (iii) created the River West Allocation Area Fund (the “River West Allocation Fund”) into which all River West TIF Revenues are deposited, all pursuant to and as