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120(} Bu uDim -, <br />227W. JFYFE.Qs(_n, Bo 3.r;vvtu <br />Smrm BEND, INDIANA 46601 -1830 <br />CITY OF SOUTH BENT) SIT1 HEN ). LUECKF, MAYOR <br />JEFF -REY V, GIBNEY <br />EXECUTIVE DIRECTOR <br />March 3, 2010 <br />South Bend Common Council <br />Fourth Floor Council Chambers <br />400 County -City Building <br />South Bend, IN 46601 <br />Dear Council Member: <br />RHONE 774/ 335 -9371 <br />FAx 574/235 -9021 <br />-rDD 574/ 235 -5567 <br />The attached Resolution for your consideration would designate the City of South Bend as a Recovery <br />Zone, The Recovery Zone Act was part of the stimulus program approved by Congress in 2009. Certain <br />types of bonds are available only in Recovery Zones, and only available until the end of 2010. As we <br />review development opportunities this year, having the Recovery Zone designation in place gives us <br />another tool to meet those challenges. This Resolution only designates an area where these bonds can <br />be considered. Any specific bond project would need additional approval by the Common Council. <br />Please call me at 235 -9339 if you have any questions. I will attend your March 8th meeting to make <br />presentation of this bill. <br />Sincerely, <br />Donald E. Inks <br />Director <br />Economic Development <br />cc: Jeff Gibney <br />Comm NuTY DEwLoPMF.NT EECONOMic. DEVELOPMENT FINANCIAL & Pk0(;kiM <br />PAMELA C:. taiL,rsa DONAM E. IN," MANAGE11LN1' <br />5702i5-9660 571/235.9371 LLIZlBM4 LUINARD <br />FLy: 575/2359697 57412359371 <br />