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0U TH& <br /> �O <br /> 227 W.JEFFERSON BOULEVARD j� C�� PHONE:574/235-9371 <br /> SUITE 1400 S. W PFACF Y;h FAX:574/235-9021 <br /> SOUTH BEND,IN 46601-1830 <br /> e1865_��� <br /> ;a <br /> CITY OF SOUTH BEND PETE BUTTIGIEG,MAYOR <br /> COMMUNITY INVESTMENT <br /> May 17, 2017 <br /> Filed in Clerk's Once <br /> Mr. Tim Scott, President MAY 17 2017 <br /> South Bend Common Council <br /> 4th Floor County-City Building KAREEMAH FOWLER <br /> South Bend, IN 46601 CITY CLERK,SOUTH BEND,IN <br /> RE: Economic Development Revenue Bonds 2017 (Studebaker Project) <br /> Dear President Scott: <br /> Attached for the Common Council's consideration is an Ordinance that approves the issuance of <br /> Economic Development Revenue Bonds (Bonds)to support facade improvements to the former <br /> Studebaker Building 84. <br /> As you may know, in October 2012 the Redevelopment Commission approved a Development <br /> Agreement with Union Station Properties, LP, committing $3,500,000 in funding from the River <br /> West Development Area for building stabilization and facade improvements to Building 84,the <br /> remaining Studebaker campus manufacturing facility. <br /> In 2016 the Renaissance District(District),which includes Building 84, was awarded a Regional <br /> Cities grant of$3,500,000. The issuance of these Bonds will allow all funding sources to be <br /> pooled together and enable the facade transformation of this six story, 100,000 square foot <br /> building overlooking the City's downtown. <br /> Thank you for your consideration. I, along with Shawn Peterson and Lisa Lee representing the <br /> District, will attend the Community Investment Committee and Council meetings on June 12, <br /> 2017 to address any questions. <br /> Sincerely, <br /> 4 <br /> es Mueller <br /> Executive Director <br /> Department of Community Investment <br /> PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ADMINISTRATION&FINANCE ECONOMIC RESOURCES <br /> TIM CORCORAN PAMELA C.MEYER ELIZABETH LEONARD INKS <br />