Authorizing the Mayor to expend funds necessary for a multi-use project in the block bounded by Colfax, Michigan, Washington and St. Joseph Streets in Downtown South Bend

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RESOLUTION NO. 687 -79 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO EXPEND FUNDS NECESSARY FOR ARCHITECTURAL AND ENGINEERING FEES, DEVELOPMENT MANAGEMENT COSTS, AND RELATED ADMINISTRATIVE COSTS WITH RESPECT TO THE DEVELOPMENT AND CONSTRUCTION OF A MULTI -USE PROJECT IN THE BLOCK BOUNDED BY COLFAX, MICHIGAN, WASHINGTON AND ST. JOSEPH STREETS IN DOWNTOWN SOUTH BEND. WHEREAS, construction is proposed of a multi -use complex con- sisting of an office building, a first -class hotel, retail space, an enclosed atrium interconnecting the various structures, an all - weather garage, and an enclosed walkway to the Century Mall, all of which improvements will be located in an area bounded by Colfax Avenue on the North, St. Joseph Street on the East, Washington Street on the South and Michigan Street on the West, in South Bend, Indiana; and WHEREAS, the City of South Bend has received approval from the United States Department of Housing and Urban Development under Title I of the Housing and Community Development Act of 1977 for an Urban Development Action Grant in the amount of $7,600,000.00 for construction of the public portion of the project; and WHEREAS, the successful completion of the project is in the best interests of the citizens and taxpayers of the City of South Bend, Indiana, in that the project will foster additional permanent jobs in the community, will expand the tax base of the City, and will promote additional economic development throughout the community; and WHEREAS, the City of South Bend presently has been engaged in preliminary negotiations with the First Bank and Trust Company of South Bend, Indiana, Marriott Hotels of Washington, D. C. and its nominee RAHN Properties II, and Gerald D. Hines Interests, all parties to the proposed construction of the multi -use project; and, WHEREAS, it now is necessary to move the proposed project to a point at which the costs of construction may be ascertained. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Mayor of the City of South Bend hereby is authorized to expend all funds necessary for architectural and engi- neering fees, development management costs (maximum of $705,000.00), and related administrative costs, to move the proposed multi -use project to a point at which the costs of construction may be as- certained. SECTION II. This Resolution shall be in full force and effect from and after its passage by the Common Council, and its approval by the Mayor. Adopted, as amended, March 12, 1979