Laserfiche WebLink
1ZOO COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 574/235-9371 <br />FAx 574/235-9021 <br />TDD 574! 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~ ECONOMIC DEVELOPMENT <br />SHARON T. KENDALL <br />EXECUTIVE DIRECTOR <br />November 9, 2005 <br />South Bend Common Council <br />Fourth Floor Council Chambers <br />400 County City Building <br />South Bend, IN 46601 <br />Dear Council Members: <br />Attached is a substitute Bill No. $3-OS which is scheduled for second reading on November 14, <br />2005. When we filed the original bill there was some uncertainty about the source of funds that <br />would be used to repay the Section 108 loan for the Studebaker/Oliver project. The original bill <br />pledged County Option Income Tax to repay the Ioan. Since that time we have determined that <br />the loan will instead be repaid from Community Revitalization Enhancement District (CRED) <br />funds and TIF funds. The Advisory Commission on Industrial Development has pledged the use <br />of CRED funds for repayment of the loan and the South Bend Redevelopment Commission has <br />pledged the use of TIF funds from the Sample Ewing Development Area as a second source of <br />repayment. <br />I will attend the Council meeting on the 14th. In the meantime, please call me at 235-9374 if you <br />have any questions. <br />Sincerely, <br />Ann E. Kolata <br />Senior Redevelopment Specialist <br />cc: Aladean DeRose <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT <br />PAMELA C. MEYER DONALD E. INKS <br />574/235-9660 5741235-9371 <br />FAX: 574/235-9697 <br />Filed !n Cterk's Office <br />NOV - 9 2005 <br />.10HH YOORDE <br />CITY CLERK, S0. BEND, tN. <br />FINANCIAL RC PROGRAM <br />MANAGEMENT <br />ELIZABETH LEONARD <br />574/235-9371 <br />