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I ZOO WLIN7Y-~TY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />Sovrr-t BFxD, INDrANA 46G01-1830 <br />Pwove574/235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-55G7 <br />CITY OF SOUTH BEND STEPHEN J. LUECIQ;, MAYOR <br />COMMUNITY SL ECONOMIC DEVELOPMENT <br />JEFFREY 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 />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 />Sinc ly, <br />Wald E. I s <br />D rector <br />Economic Development <br />cc: Jeff Gibney <br />Co~nllmmr DcvaoraleNr EcoNOenc D~IAratECVr FlNrwcuL & PROGRAM <br />Px+~eL.i C. Mei~x Dowtn F; Ivtcs MANAGE~SINT <br />574!235-9GG0 574!235-4371 Etruasrtt LEOruan <br />Fax: 5741235-9G97 5741235-9371 <br />