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6 y <br /> Human Resources and Economic Development Committee <br /> June 10, 1991 <br /> Page 2 <br /> Mr. Richard Morgan of Barnes & Thornburg noted that last <br /> fall, the City rezoned the area in question to A-3 zoning. <br /> Ongoing discussions have taken place between St. Joseph <br /> County and Madison Center with an agreement being reached on <br /> October 9th of 1990. The County will issue $8 to $9 million <br /> of bonds, with a property tax levy of the County being <br /> increased at the following rates: 4 cents, 6 cents, and 10 <br /> cents. Mr. Morgan noted that the facility will be <br /> constructed at the current location, and that in <br /> approximately 2 1/2 weeks there will be a ground breaking, <br /> with bonds to be sold later this summer. The Council <br /> Attorney noted that she had been in contact with Mr. Kenneth <br /> Fedder, the Commission's attorney, who has reviewed the <br /> proposed Resolution and finds it to be acceptable with <br /> regard to form and content. She then also noted that she has <br /> reviewed the Resolution and finds it to be consistent with <br /> State law, and provided a copy of I.C. , 36-7-12-22 which <br /> provides in part that the City is required to consent <br /> through the Common Council of any Economic Development <br /> facilities (copy attached) . <br /> Mr. Jack Roberts of Madison Center, noted that the facility <br /> will be operational by late June of 1992 . <br /> Following further discussion, Council Member Duda made a <br /> motion seconded by Council Member Slavinskas, that <br /> Resolution No. 91-46 be recommended favorably to Council. <br /> The motion passed. <br /> There being no further business to come before the <br /> Committee, the meeting was adjourned at 5: 10 p.m. <br /> Respectfully submitted <br /> Council Member Steve Luecke, Chairperson <br /> Human Resources and Economic Development Committee <br />