Laserfiche WebLink
• <br /> BILL NO. <br /> ORDINANCE NO. Y 9e <br /> AN ORDINANCE APPROPRIATING $100,000 FROM THE ECONOMIC DEVELOPMENT <br /> STATE GRANT FUND FOR THE PURPOSE OF ADDING TO THE NEIGHBORHOOD <br /> DEVELOPMENT CORPORATION'S REVOLVING LOAN FUND PROGRAM <br /> Statement of Purpose and Intent: <br /> The government of the City of South Bend, in partnership with the City's private sector and <br /> residents, is committed to the goal of improving the "quality of life" in the City, its neighborhoods, and <br /> for its residents. As part of this commitment to a comprehensive community development and <br /> improvement program, the City of South Bend , through it Department of Community & Economic <br /> Development wishes to assist in the growth of the Neighborhood Business Development Corporation's <br /> revolving loan fund program. The fund will be used to make loans to commercial strip entrepreneurs. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, <br /> Indiana, as follows: <br /> SECTION I. The sum of $100,000 is hereby appropriated from the City of South Bend's <br /> Economic Development State Grant Fund (Fund 210) to be used to add to the NBDC revolving loan fund <br /> program. <br /> SECTION II. This Ordinance shall be in full force and effect from and after its passage by the <br /> Common Council and approval by the Mayor. <br /> 1,-4_ of the Comm, �.uncil <br />