9614-05 Appropriating $4,000,000 within Fund 101 for the purpose of redevelopment of the Studebaker-Oliver Project

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ORDINANCE NO. ~~' l _\~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING $4,000,000 WITHIN FUND 101 FOR THE PURPOSE OF REDEVELOPMENT OF THE STUDEBAKER-OLIVER PROJECT AREA Statement of Purpose and Intent: The Studebaker-Oliver Project is a significant Brownfield revitalization project within the City of South Bend, and funding the costs of this project is a priority. This ordinance provides for the appropriation of non-tax revenue funds on deposit in the City's General Fund #101 to pursue the necessary redevelopment activities in the Studebaker-Oliver project area, including costs of acquisition, relocation, demolition, site preparation, environmental studies and clean-up, and other similar costs. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $4,000,000 from the General Fund is hereby appropriated and set aside within Fund 101 for use in redevelopment activities (including acquisition, relocation, demolition, site preparation, environmental studies and clean-up, disposition, etc.) taking 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. ~~ Member, South Ben Common Council Atte ity C erk Presented by me to the Mayor of the City of South Bend, Indiana on the ~~ day of ~ , 2 ~. , at '• IS o'clock ~. m. ~~ ~ ~,, _ ~ r',~ 1 City Clerk Approved and signed by me on the /G day of o ,~,~~.~-~--~ , 2~~ at ~i: ?.~' o'clock Q. m. i 1st READING g-L~-"~s PUBLIC HEARIIVG~-LZ'~r 3 rd READING q--~t_~S- NOT APPROVE® REFERRED PASSED . ~ - lZ-~ S~ ~~iled tn_Cterk's Office i r~-~+ i L,_.... S(?;{pl VOORDE i CiTI' GLcr~l;, 50. B1rP1D, IN. ayor, Bend, Indiana