The matter of Petroleum Chemicals Company and/or Overhill Manufacturing Inc. and/or Mr. and Mrs. Thomas R. Kinnucan

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RESOLUTION NO. 318-72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER OF PETROLEUM CHEMICALS COMPANY AND/OR OV.ERHILL MANUFACTURING INC. , ANDJOR MR. AND MRS. THOMAS R. KINNUCAN. WHEREAS , Petroleum Chemicals Company and/or Overhill Manufacturing Inc. , and/or Mr. and Mrs. Thomas R. Kinnucan have submitted their intention to the Economic Development Commission of South Bend to purchase and rehabilitate the property at 2502 Lawton Avenue , South Bend, Indiana. This property abuts the Indiana R-66 Urban Renewal Plan and Project in the Downtown South Bend, Indiana area. WHEREAS, Petroleum Chemicals Company and/or Overhill Manufacturing Inc. , and/or Mr. and Mrs. Thomas R. Kinnucan have 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 Petroleum Chemicals Company and/or Overhill Manufacturing Inc . , and/or Mr. and Mrs. Thomas R. Kinnucan 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 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 having jurisdiction of the area in which the proposed facility is to be built, and WHEREAS, the plan meets the desire of the Redevelopment Commission of the City of South Bend, and WHEREAS, now the Petroleum Chemicals Company and/or Overhill Manufacturing Inc. , and/or Mr. and Mrs. Thomas R. Kinnucan seeks approximately $200 ,000. 00 from an issue of revenue bonds of the Economic Development Commission of the City of South