9680-06 Appropriating $247,500 within Fund #209 for Revitalization of the Studebaker/Oliver Redevelopment Area

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ORDINANCE NO. ~ ~ ~ ~ ' AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING $247,500 OF UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ECONOMIC DEVELOPMENT INITIATIVE GRANT FUNDS WITHIN FUND 209 FOR THE PURPOSE OF REVITALIZATION OF THE STUDEBAKER/OLIVERREbEVELOPMENT AREA Statement of Purpose and Intent: President Bush signed into law the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Act on November 30, 2005. The Act provided the United States Department of Housing and Urban Development with Economic Development Initiative funding for certain special projects including a $247,500 Economic Development Initiative Grant for the City of South Bend, Indiana. It is necessary to appropriate these funds for the purpose of conducting revitalization work in the Studebaker/Oliver Redevelopment Project Area. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $247,500 from a United States Department of Housing and Urban Development Economic Development Initiative grant, plus any interest earned thereon, is hereby appropriated and set aside within Fund 209 for use in redevelopment activities (including acquisition, relocation, demolition, site preparation, environmental studies and clean-up, disposition, etc.) to take place in the Studebaker/Oliver Redevelopment Project Area. SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. ~-~ !D', Member, Sout d Common Council Attest: ity C r c ~ ~f Presented by me to the Mayor of the City of South Bend, Indiana on the ~ 3 -}~. day of u. h e.. , 2 6 p~ , at '. ~l c~ o'clock ~. m. City Cler ~ I