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S <br /> RESOLUTION NO. 331-72 <br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF <br /> SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER <br /> OF FIRST BANK AND TRUST COMPANY OF SOUTH BEND, INDIANA <br /> TRUSTEE FOR LAND TRUST #29-5121 , THE OWNER OF SAID LAND <br /> TRUST BEING A .G.A. REALTY COMPANY OF SOUTH BEND, AN <br /> INDIANA PARTNERSHIP . <br /> WHEREAS , the First Bank and Trust Company of South Bend as Trustee for <br /> Land Trust #29-5121 has submitted its intention to the Economic Development <br /> Commission of South Bend to build a new commercial building on the approximate <br /> 0. 170 acre tract located on the north side of the 100 block of West Washington <br /> Street, South Bend, Indiana and said property is within the R-66 Urban Renewal <br /> Plan. <br /> WHEREAS , the Economic Development Commission, pursuant to the statute, <br /> has found by written resolution that there exists insufficient employment opportunities <br /> and that the economic welfare of the City of South Bend, Indiana would be benefited <br /> and the purpose of the statute would be accomplished by the acquisition and leasing <br /> of the above described property to the First Bank and Trust Company of South Bend as <br /> Trustee for Land Trust #29-5121 , and <br /> WHEREAS , the First Bank and Trust Company of South Bend as Trustee for <br /> Land Trust #29-5121 has submitted a statement of public service to the above Economic <br /> Development Commission of the City of South Bend and said Commission has forwarded <br /> this statement of public service with their approval and comments to the South Bend <br /> School Corporation, a copy of which is attached, and <br /> WHEREAS , the affirmative response and analysis of the South Bend School <br /> Corporation has been received as presented to the Clerk of the City of South Bend <br /> and attached, and <br /> WHEREAS , the statement of public service by First Bank and Trust Company of <br /> South Bend as Trustee for Land Trust #29-5121 and the Economic Development Commission <br /> of the City of South Bend have been submitted for approval and comments to the Area <br /> Plan Commission of St. Joseph County and the affirmative action and comments of the <br /> Area Plan Commission have been received by the Clerk of the City of South Bend as <br /> attached, and <br /> WHEREAS , the requirements of the application as described in the "Municipal <br /> Economic Development Act of 1965 of the State of Indiana" as amended have therefore <br /> been met to this point, including a projection of the number of jobs created, the <br /> estimated payroll created and the approximation of the cost of the land and construction, <br /> and the impact on utilities and fire and police facilities of the City of South Bend with <br /> the approvals of the 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 , the plan meets the desire of the Redevelopment Commission of the <br /> City of South Bend, and <br /> WHEREAS , now the First Bank and Trust Company of South Bend as Trustee for <br /> Land Trust #29-5121 seeks an amount of $1 . 6 million and not to exceed $2 . 2 million <br /> from an issue of industrial revenue bonds of the Economic Development Commission of <br />