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OFFICE OF THE MAYOR <br />CITY of SOUTH BEND <br />PETER J. NEMETH, Mayor <br />COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 <br />February 7, 1979 AREA 219 284 -9261 <br />Common Council Members <br />County -City Building <br />South Bend, Indiana 46601 <br />Dear Council Members: <br />The attached resolution is an inducement resolution <br />which, in effect, indicates the Council's support for the <br />development of the First Bank - Marriott Hotel Complex in the <br />so- called "Hole" area in downtown South Bend. <br />It also indicates the Council's receptiveness and <br />willingness to approve an economic development revenue bond <br />application which will be forthcoming from FBT Bancorp, Inc. <br />This resolution is being sought for the purpose of <br />attaching it to the agreement which will be submitted to HUD <br />to obtain release of the UDAG funds so that the project may <br />go forward. The bank's willingness to proceed is contingent <br />upon its being able to obtain economic development revenue <br />bonds, and this resolution, in effect, will tell HUD, as <br />well as the bank interests, that the Council is willing <br />to resolve that contingency. <br />If you have any questions concerning this matter, <br />please do not hesitate to contact me. <br />Ver ruly urs, <br />Peter J. Nemeth <br />PJN /bjb <br />Attachment <br />