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1200 COUNTY -CITY Butu)w- <br />227W JE.FFEkSON Bo�:i r ..vutu <br />So ri-3 B Nn, INDIANA 46601 -1830 <br />Pi oNr. 5741235-9371 <br />F,tix 5741235 -9021 <br />'r DD 5741235 -5567 <br />Q-rY or Sou-r-,i BEND J. LU CKF, MAYOR <br />COMMUNITY Ec0Nomic DEVELOPMENT <br />JEFrREY V. GIBNEY <br />EXEC:U7IV6 DIRECTOR <br />March 3, 2010 <br />South Bend Common Council <br />Fourth Floor Council Chambers <br />400 County -City Building <br />South Bend, IN 46801 <br />Dear Council Member: <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 236 -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 />tt w A <br />VTV <br />(~f)VfMir~I n DfvEL( PMENT E.CONomic DF.lnopmFF T FINANCIAL & PROGRAM <br />PANOILA C. MF. Nt Dm4.1Ln F.. inxs MANAGJLMCNf <br />5731235 -966n 5741735 -9371 !L!ZAKTw €,ECNAU <br />F.nN 5741235 -4697 5741235 -9371 <br />