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SOUTH �A\\`1 <br /> 04 `\.'���'���/i 1 loll <br /> ,. P, ! d City of South Bend <br /> ii '.',,- )iiA. Joseph E. Kernan, Mayor <br /> \ 1865 `_", <br /> Department of Economic Development <br /> Jon R. Hunt Ann E. Kolata <br /> Executive Director Deputy Executive Director <br /> May 10, 1991 <br /> South Bend Common Council <br /> Fourth Floor Council Chambers <br /> 400 County-City Building <br /> South Bend, IN 46601 <br /> Dear Council Member: <br /> The attached bill for your consideration and approval will <br /> appropriate $50,000.00 as the City's contribution to an Enterprise <br /> Development Fund which will provide revolving loan funds to loan to <br /> non-traditional enterpreneurs. The monies requested in this bill <br /> are projected to be loaned to the fund and come from the repayments <br /> to the Economic Development State Grants fund. _ <br /> The Enterprise Development Fund is a joint project of the Urban <br /> Enterprise Association, the Business Development Corporation, the <br /> City of Mishawaka, and the City of South Bend. While not limited <br /> to any specific site, we believe the fund will be particularly well <br /> suited to the- intended tenants of the proposed incubator. <br /> If you have any questions, please call me. <br /> Sincerely, <br /> G <br /> Lit <br /> on R. Hunt <br /> Executive Director <br /> cc: Pam Meyer <br /> Beth Leonard <br /> Kathleen Hargray <br /> 1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9021 <br /> Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights <br /> Ann Kolata & Business Assistance (Cathryn Baumgartner Management Cynthia Love-Bush <br /> 284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355 <br /> 284-9335 284-9475 284-9335 <br />