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-388 <br />REGULAR MEETING JULY 11, 1994 <br />APPROVE AGREEMENTS FOR PROVISION OF REVOLVING LOAN FUNDS TO <br />NEIGHBORHOOD BUSINESS DEVELOPMENT CORPORATION <br />Submitted to the Board for consideration were two (2) Agreements <br />for Provision of Revolving Loan Funds to Neighborhood Business <br />Development Corporation, between the City and the Neighborhood <br />Business Development Corporation. The first Agreement indicates <br />that the City desires to retain NBDC to provide services regarding <br />the operation and fiscal management of the Neighborhood Commercial <br />Strip Revolving Loan Program. The Agreement also indicates that <br />the City has appropriated $100,000.00 from the Economic <br />Development State Grant Fund on April 11, 1994 for this program. <br />The second Agreement indicates that the City has appropriated <br />$75,000.00 from Civil City funds on April 11, 1994, for this <br />program. <br />Ms. Marcia Townsend, Department of Community and Economic <br />Development, further informed the Board that these Agreements also <br />add Miami Street and Mishawaka Avenue as eligible locations. <br />Therefore, Mr. Leszczynski made a motion that these Agreements be <br />approved. Mr. Caldwell seconded the motion which carried. <br />APPROVE COMMUNITY DEVELOPMENT ADDENDUM <br />Upon a motion made by Mrs. Manier, seconded by Mr. Caldwell and <br />carried, the following Community Development Addendum was approved <br />and executed: <br />ADDENDUM II <br />NEIGHBORHOOD BUSINESS DEVELOPMENT CORPORATION <br />NBDC COMMERCIAL REVOLVING LOAN FUND ACTIVITY <br />Addendum II revises the guidelines for this activity to <br />require the bank lender ratio to be changed from one to one <br />to two to one, private dollars to NBDC dollars. <br />APPROVE EQUIPMENT LEASE -PURCHASE AGREEMENT - AMERITECH CREDIT <br />CORPORATION <br />Mr. Leszczynski stated that the Board is in receipt of an <br />Equipment Lease -Purchase Agreement from Ameritech Credit <br />Corporation, Leasing Services, 2550 West Golf Road, Rolling <br />Meadows, Illinois. Board member Mrs. Jenny Pitts Manier informed <br />members of the Board that this Agreement relates to service. <br />Pursuant to Municipal Services Schedule A of the Agreement, the <br />description of services is recast of schedule 001/Single Payment <br />Option. Additionally, pursuant to Schedule B, the equipment cost <br />and amount to be financed is $386,899.89 for a term of one hundred <br />twenty (120) months with a simple interest rate of 7.17%. Payments <br />shall be in the amount of $4,498.86. Mrs. Manier made a motion <br />that this Equipment Lease -Purchase Agreement be approved and <br />executed. Mr. Caldwell seconded the motion which carried. <br />APPROVE WASTEWATER DISCHARGE PERMITS <br />In a Memorandum to the Board, Mr. Ken Zmudzinski, Pretreatment <br />Coordinator, Division of Environmental Services, submitted the <br />following Wastewater Discharge Permits and recommended approval: <br />1. Amoco Oil Company <br />30230 Orchard Lake Road, Suite 240 <br />Farmington Hills, Michigan <br />For site located at: 310 Dixie Highway <br />South Bend, Indiana <br />2. Amoco Oil Company <br />30230 Orchard Lake Road, Suite 240 <br />1 <br />