1990-12-21 Resolution 29 - Laserfiche WebLink

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r • z~ ^~~ ' K ~crr ,.w'~ Pro,j„ect Description The proposed project to be financed by $4,200,000. of Taxable Lease Rental Revenue Bonds includes extending water and sewer lines, land .acquisition and constructing streets to development sites within the area. The City's Airport 2010 project,. in which this issue is the first phase, is a major, long-term economic development project which will develop 2,300 acres of land around the Michiana Regional Airport. The complete project is expected to result in hundreds of millions of dollars of private investment, including a new office park, hotel/golf course that will create thousands of jobs in North Central Indiana. GENERAL PHYSICAL AND DEMOGRAPHIC INFORMATION Location The City of South Bend is located in St. Joseph .County in North Central Indiana, approximately 140 miles north of Indianapolis .and 90 miles east of Chicago. The. City borders on the State of Michigan and is commonly known as the "Michiana" area. u~storv and General Characteristics The City of South Bend was incorporated in 1867. In the 1800's Potawatomi Indians, trappers and missionaries traveled through sections of South Bend on the banks of the St. Joseph-Kankakee River. The Indians and Frenchmen settled in the beautiful area surrounding the southern most tip of the St. Joseph River (to be known as "South Bend"). Through the years many businesses started -in South Bend including the Studebaker Brothers Manufacturing Company which became the largest wagon maker in the world. In 1892 the Holy Cross Brothers .founded Notre Dame University which has grown to over 1,200 acres and 10,000 students. Notre Dame provides a positive impact on South Bend's economy (estimated at $432 million per year) and on the community. The South Bend area has a mix of agriculture, manufacturing, commercial and tourism industries. This diversification provides the city with varied employment opportunities and provides for a strong economic future. Population The population for the City of South Bend and St. Joseph County is provided by the U.S. Bureau of Census. City of South Bend St Jose ph County Percentage Percentage Increase/ Increase/ Year Population Decrease Population Decrease 1940 101,268 (2.8)~ lb1,823 1.1 ~ 1950 115,911 14.4 ~ 205,058 26.7 ~ 1960 132,445 14.3 ~ 238,614 16.4 ~ 1970 125,580 (5.2)$ 244,827 2.6 ~ • 1980 109,727 (12.6) 241,617 (1.3)~ 1988 (est.)* 106,190 (3.2)~ 244,200 1.1 ~ *Estimate as of July 1 -3-