The matter of Rael Brown, et al, an Indiana Partnership

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RESOLUTION NO. 336-72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER OF RAEL BROWN, ET AL, AN INDIANA PARTNERSHIP, OF SOUTH BEND, INDIANA WHEREAS, Rael Brown, et al, an Indiana partnership has submitted its intention to the Economic Development Commission of South Bend to construct a one-story building located at 208- 210 South Michigan Street, within the City of South Bend, Indiana. WHEREAS, the Economic Development Commission, pursuant to the Statute, has found by written resolution that there exists insufficient employment opportunities and that the economic welfare of the City of South Bend, Indiana, would be benefited and the purpose of the statute would be accomplished by the acquisition and leasing of the above described property to Rael Brown, et al, an Indiana partnership, and WHEREAS, Rael Brown, et al , an Indiana partnership, has submitted a statement of public service to the above Economic Development Commission of the City of South Bend and said Commission has forwarded this statement of public service with their approval and comments to the South Bend School Corporation, a copy of which is attached, and WHEREAS, the affirmative response and analysis of the South Bend School Corporation has been received as presented to the Clerk of the City of South Bend and attached, and WHEREAS, the statement of public service by Rael Brown, et al, an Indiana partnership, and the Economic Development Commission of the City of South Bend have been submitted for approval and comments to the Area Plan Commission of St. Joseph County and the affirmative action and comments of the Area Plan Commission have been received by the Clerk of the City of South Bend, as attached, and WHEREAS, the requirements of the application as described in the "Municipal Economic Development Act of 1965 of the State of Indiana" as amended have therefore been met to this point, including a projection of the number of jobs created, the estimated payroll created and the approximation of the cost of the land and construction, and the impact on utilities and fire and police facilities of the City of South Bend with the approvals of the school corporation and the Area Plan Commission have jurisdiction of the Area in which the proposed facility is to be built, and WHEREAS , Rael Brown, et al , an Indiana partnership,seeks approximately $120, 000. 00 from an issue of revenue bonds of the Economic Development Commission of the City of South Bend to be signed by its Mayor and by its City Clerk and further desires to enter into a lease of not to exceed 30 years durptCt wn as a net net net lease sufficient to pay the prim "IRMOCrest of these bonds and obtain title at the end of th$ dtH eErto,np, 1st & 2nd READING I a 10- 7 Z COMMITTEE OF THE WHOLE PUBLIC HEARING - j 3rd READING r NOT APPROVED. REFERRED PASSED 1 0• 0 -7 ?- .