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RESOLUTION NO.
<br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br /> OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN
<br /> THE MATTER OF R. LEE FAGEN, OF ROSELAND, IND.
<br /> WHEREAS, R. Lee Fagen, of Roseland , Indiana, has submitted
<br /> his intention to the Economic Development Commission of South
<br /> Bend, to construct a building to house service type enterprises in
<br /> the town of Roseland, at 201 Dixie Way North, in St. Joseph County,
<br /> Indiana.
<br /> WHEREAS, the Economic Development Commission, pursuant
<br /> to the Statute , has found by written resolution that there exists
<br /> insufficient employment opportunities and that the economic
<br /> welfare of the City of South Bend, Indiana would be benefited
<br /> and the purpose of the statute would be accomplished by the
<br /> acquisition and leasing of the above described property to R. Lee
<br /> Fagen, of Roseland, Indiana, and
<br /> WHEREAS , R. Lee Fagen of Roseland, Ind. has submitted a
<br /> statement of public service to the above Economic Development
<br /> Commission of the City of South Bend and said Commission has
<br /> forwarded this statement of public service with their approval
<br /> and comments to the South Bend School Corporation, a copy of
<br /> which is attached, and
<br /> WHEREAS , the affirmative response and analysis of the
<br /> South Bend School Corporation has been received as presented to
<br /> the Clerk of the City of South Bend and attached, and
<br /> WHEREAS, the statement of public service by R. Lee Fagen
<br /> of Roseland, Ind. and the Economic Development Commission of the
<br /> City of South Bend have been submitted for approval and
<br /> comments to the Area Plan Commission of St. Joseph County and
<br /> the affirmative action and comments of the Area Plan Commission
<br /> have been received by the Clerk of the City of South Bend, as
<br /> attached, and
<br /> WHEREAS, the requirements of the application as
<br /> described in the "Municipal Economic Development Act of 1965 of
<br /> the State of Indiana" as amended have therefore been met to this point,
<br /> including a projection of the number of jobs created, the estimated
<br /> payroll created and the approximation of the cost of the land and
<br /> construction, and the impact on utilities and fire and police
<br /> facilities of the City of South Bend with the approval of the
<br /> school corporation and the Area Plan Commission have jurisdiction
<br /> of the area in which the proposed facility is to be built, and
<br /> WHEREAS, R. Lee Fagen seeks approximately $240, 000. 00
<br /> from an issue of revenue bonds of the Economic Development Commission
<br /> of the City of South Bend to be signed by its Mayor and by its City
<br /> Clerk and further desires to enter into a lease of not to exceed'
<br /> 15 years duration to be known as a net net net lease sufficient to
<br /> pay the principal and interest of these bonds and obtain title at the
<br /> end of the lease, and
<br /> WHEREAS, by virtue of the net net net lease , R. Lee Fagen,
<br /> of Roseland, Indiana, indicates his intention to pay all expenses of
<br /> the operation, maintenance, insurance, property taxes , whatever of
<br /> the facility,
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