Determining Amount of Assistance paid Urban Enterprises Association

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ORDINANCE NO. Wig-96 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA DETERMINING THE AMOUNT OF ASSISTANCE TO BE PAID TO THE URBAN ENTERPRISE ASSOCIATION OF SOUTH BEND, INC. BY ZONE BUSINESSES RECEIVING A CREDIT UNDER I .C. 4-4-6 .1 STATEMENT OF PURPOSE AND INTENT An enterprise zone (Zone) has been designated within the corporate boundaries of the City of South Bend, Indiana, by the Indiana Enterprise Zone Board (Board) , pursuant to I .C. 4-4-6 . 1-3, and redesignated as an enterprise zone by the Board in 1995 . As a part of the process of redesignation of the Zone, the Common Council of the City of South Bend, Indiana (Council) approved the redesignation application of the Urban Enterprise Association of South Bend, Inc. (UEA) , the entity, pursuant to I .C. 4-4-6 . 1-5 which oversees and coordinates development activities within the Zone. The redesignation application of the Zone incorporated a five-year strategic plan which presumed the receipt of current levels of assistance received by the UEA from Zone businesses receiving a credit, including, but not limited to, the inventory tax credit, under I .C. 4-4-6 . 1 . House Enrolled Act No. 1084 enacted by the General Assembly of the State of Indiana, and effective as law July 1, 1996, requires the participation of a municipal legislative body such as the Council in certain activities of the UEA including the determination of the amount of assistance to be paid by any Zone business receiving a credit under I .C. 4-4-6 . 1 and the process of disqualifying a Zone business from eligibility for all credits and incentives available to Zone businesses . Pursuant to I .C. 4-4-6 . 1-4, a member of the Council serves as a member of the UEA Board of Directors . The Council recognizes the expertise of the UEA in administering programs within the Zone and recognizes and respects its experience in working with and securing the compliance of businesses within the Zone in connection with such programs . NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS : SECTION I . It is hereby determined that each Zone business shall be required to pay to the UEA as assistance to the UEA under I .C. 4-4-6 . 1-2, an annual amount equal to twenty-five percent of any credit received by such business under I .C. 4-4-6. 1 for the preceding year: Provided, however, that said amount shall be equal to thirty percent (30%) of any such credit in the case of any warehouser.