06-10-91 Human Resources & Economic Development

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QJIlm tttrr &port HUMAN RESOURCES AND ECONOMIC DEVELOPMENT COMMITTEE an the Qlmmmn QI mit of the Qltty of flonutil drtth: The June 10, 1991 Meeting of the Human Resources and Economic Development Committee was called to order by its Chairperson, Council Member Steve Luecke, at 4:55 p.m. in the Council Informal Meeting Room. Persons in attendance included Council Members Ladewski, Duda, Zakrzewski, Niezgodski, Puzzello, Luecke, Coleman, Soderberg, and Slavinskas; Jon Hunt, Jack Roberts, Richard Morgan, member of the news media, and Kathleen Cekanski- Farrand. Council Member Luecke noted that the first item on the agenda, namely Bill No. 31-91 which would appropriate $65,000. 00 received from the U.S. Department of Housing, and Urban Development's Emergency Shelter Grants Program, would be continued until the meeting of June 24, 1991. The next item on the agenda was Bill No. 32-91, which would appropriate $50, 000.00 from the Economic Development State Grant Fund for the purpose of funding an Enterprise Development Fund. Mr. Jon Hunt noted that the funding source are the State Grants which came to the City. Mishawaka would also be paying $50, 000.00 and the BDC would be paying $150,000.00, both in loan form with $250, 000. 00 from the State for a total of $500,000.00 along with the City's appropriation. This Enterprise Development Fund is aimed at small start up businesses. A new not-for-profit corporation would be formed. He noted that this is the first joint effort between the City of Mishawaka and the City of South Bend in this area. The fund will focus on providing revolving loan funds to loan to nontraditional entrepreneurs. In response to a question raised by Council Member Luecke, Mr. Hunt stated that he would have information available with regard to the duration of the loan at this evenings meeting. The project is to begin in late August. Following further discussion, Council Member Slavinskas made a motion seconded by Council President Niezgodski that Bill No. 32-91 be recommended favorably to Council. The motion passed. The Committee then reviewed Resolution No. 91-46, which would consent to the transfer of jurisdiction to St. Joseph County regarding Economic Development facilities and the issuance of St. Joseph County Economic Development Revenue Bonds for the Madison Center Inc. project.