Resolution No 18-2018 - Project Impact Development Center

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RESOLUTION NO. 18-2018 A RESOLUTION OF THE BOARD OF PUBLIC WORKS APPROVING THE DONATION OF FUNDS TO PROJECT IMPACT SOUTH BEND, INC. FOR LOCAL SMALL BUSINESS DEVELOPMENT AND COMMUNITY SERVICE PURPOSES WHEREAS, the Board of Public Works (the "Board") for the City of South Bend, Indiana (the "City"), exists and operates in accordance with the laws of the State of Indiana; and WHEREAS, Project Impact South Bend, Inc. ("Project Impact") is an Indiana non-profit corporation and is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code; and WHEREAS, Project Impact, along with other community partners, anticipates carrying out certain local business development and community service efforts to stimulate local small business advancement and entrepreneurial achievement in the City; and WHEREAS, the City desires to promote, aid, and support Project Impact's local business development and community service efforts by donating certain funds (the "City Funds") to Project Impact to defray Project Impact's startup expenses for this community service initiative, including, but not limited to, expenses related to inventory relocation, building outfitting, and technology acquisition (collectively, the "Permitted Expenditures"), but excluding any administrative fees and personnel expenses; and WHEREAS, the City Funds have previously been appropriated by the South Bend Common Council; and WHEREAS, the Board has determined that donating the City Funds to Project Impact for use in its local business development and community service efforts constitutes a valid public purpose and will serve the interests of the City's residents. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS FOR THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: 1. The Board hereby donates the City Funds to Project Impact in an amount equal to Thirty Thousand Dollars ($30,000.00) to be used by Project Impact for the Permitted Expenditures in furtherance and support of its local business development and community service efforts in the City. 2. This Resolution will be in full force and effect after its adoption by the Board. [Signature page follows.]