Inducement Resolution of the City of South Bend relating to Michiana Telecasting Corp.

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RESOLUTION NO.`S?- INDUCEMENT RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA RELATING TO MICHIANA TELECASTING CORP. WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council of the City of South Bend, Indiana created the South Bend Economic Development Commission, which Commission, following an investi- gation and survey, has determined that need exists in the community for additional job opportunities and commercial and industrial diversification. That in order to improve and pro- mote job opportunities, commercial diversification and the ' general welfare of the community, certain contractual agreements should be entered into with Michiana Telecasting Corp. relating and allowing it to construct and equip a building to be an ` economic development facility used to operate a radio and telecasting station at the northeast corner of Dorr Road and i U.S. 31 -33, St. Joseph County, Indiana. WHEREAS, the economic welfare of the City would be benefited i by the acquisition and building of economic development facilitie pursuant to the provisions of Indiana Code 18 -6 -4.5 (the "Act "); and I WHEREAS, Michiana Telecasting Corp., an Indiana corporation i� ( "Michiana ") purposes to acquire, build, and purchase equipment for an economic development facility as defined in the Act for the operation of a radio and telecasting station if the City will finance costs of such economic development facilities pur- suant to the Act and it is apparent that the development of this I ! project will increase job opportunities and commercial diversi- fication in the City of South Bend, and St. Joseph County, Indiana, resulting in benefit to the welfare of the public in the City of South Bend and St. Joseph County, Indiana; and j WHEREAS, to induce Michiana to develop this project and i become the principal user thereof, the South Bend Common Council i �� desires to adopt this resolution.