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1200 CouN'n~-C,TY BUILDING <br />227VF: J£FF£xsoN BOULEVi1RD <br />SUUI'H BEND, INDIANA 46601-LS30 <br />PHON£574/235-9371 <br />Fnx 574/235-9021 <br />TDD 574! 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECI:E, MAYOR <br />COMMUNITY ~L ECONOMIC DEVELOPMENT <br />-JEFFREY V GIBNEY <br />EXECUTIVE DIREGTOR <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 />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 />FIDE''-~ X11 C~~t~'v ®~'~ECB <br />py'~ AP, - ~ 2010 <br />Jc;;?; ~ruo~~ <br />cirr c~~~x, eo. ser~D, ~r~. <br />COMMUNITY DEV£LOPMF.NT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAIvI <br />P,IMELA C, MEl'f.R DONALD E. INIS MANAGE*APNI' <br />5741'Z3>-9660 574/235-9371 C'LIZABETH LEONARD ~~/' <br />FAx: 574/235.9697 574!235.9371 ~ <br />~~ <br />