Authorizing the Mayor to submit to the United States Government, Department of Energy, an application for a loan under the "Loan Program for Small Hydroelectric Feasibility Studies."

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CITY of SOUTH BEND ROGER O. PARENT, Mayor COUNTY -CITY BUILDING • SOUTH BEND, INDIANA 46601 DIVISION OF COMMUNITY DEVELOPMENT MARZY T. BAUER Director STEVEN F. COMPTON Deputy Director TO: FROM: M E M O R A N D U M Lewis A. McGann, President Common Council Marzy T. Bauer, Director Community Development J�� • �F �Fl O t Y III 20 II® 2 y 1440 County -City Building South Bend, Indlana46601 (219) 284.9335 SUBJECT: Resolutions authorizing Mayor to submit applications to the United States Government, Department of Energy for a loan and to the State of Indiana, Department of Commerce for a matching grant for a "Small Hydroelectric Facility Feasibility Study ". DATE: December 2, 1980 On December 8, 1980, the Common Council will consider Resolutions authorizing the Mayor to submit two applications which will provide the City with the funds necessary to study the feasibility of developing a hydroelectric facility on the St. Joseph River in the East Bank area. The major source of funding will come from the Department of Energy's Loan Program For Small Hydroelectric Feasibility Studies. This program funds up to 90% of the cost of the feasibility study, with the loan forgiven if the project proves to be unfeasible. The additional 10% needed to cover the cost of the study will be requested from the Indiana Department of Commerce's Energy Development Board. These funds will be an outright matching grant and will require no payback. The cost of the feasibility study will be $50,000 with $45,000 requested from the Department of Energy and $5,000 requested from the Indiana Energy Development Board.