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BILL NO. �j <br /> ORDINANCE NO. WV 8 <br /> AN ORDINANCE APPROPRIATING $68,500.00 <br /> FROM THE ECONOMIC DEVELOPMENT STATE GRANT FUND <br /> TO BE ADMINISTERED BY THE DEPARTMENT OF <br /> ECONOMIC DEVELOPMENT OF THE CITY OF <br /> SOUTH BEND, INDIANA <br /> STATEMENT OF PURPOSE AND INTENT: <br /> The City of South Bend has been awarded two State Grants totalling <br /> $68,500.00 from the Indiana Department of Commerce to facilitate the start-up <br /> of two new businesses in the South Bend area, Communication Test Design, and <br /> American Molding. A site has been selected that is located in Phase IV of the <br /> Industrial Foundation's Airport .Industrial Park for Communication Test Design. <br /> And, American Molding will be locating in the Toll Road Industrial Park. The <br /> sites will require various site improvements including water, sewer, and road <br /> work. The State Industrial Development Grant will enable the city of. South <br /> Bend to finance this project with a (50%) match of that cost not to exceed <br /> $68,500., for the purpose of providing Communication Test Design and American <br /> Molding adequate water, sewer, and access to their property. The Grant <br /> Agreements require audits be conducted upon the completion of this project and <br /> $500., has been allocated per the State Grant Agreements for that purpose. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of <br /> South Bend, Indiana, as follows: <br /> SECTION I. The sum of $68,500 is hereby appropriated from the <br /> Economic Development State Grant Fund. This appropriation shall be used in <br /> accordance with the stipulations set forth in the Grant Agreements executed <br /> between the Indiana Department of Commerce and the City of South Bend for the <br /> purpose stated above. This appropriation shall be administered by the <br /> Department of Economic Development and will be distributed as set forth below. <br /> Account No. Description Amount <br /> 399.0 Other Contractuals $68,500 <br /> SECTION II. No costs will be incurred or funds expended for any <br /> activities in this ordinance prior to an official release of funds received <br /> from the Indiana Department of Commerce as may be required. <br /> SECTION III. This ordinance shall be in full force and effect from and <br /> after its passage by the Common Council and approved by the Mayor. <br /> • <br /> Adhil <br /> M- .-r . ` e Common 0147'1 1 <br />