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CITY of SOUTH ;END <br /> X4 °'';'','I, ; 4�1 ROGER O. PARENT, Mayor <br /> M ',...,..•\PEACE i 11 <br /> A .V � % +;b • COUNTY-CITY BUILDING SOUTH BEND, INDIANA 46601 <br /> */868' 0 <br /> 444 a•° <br /> Economic Development Commission November 13, 1985 <br /> Jerry Hammes,President <br /> Staff Administration <br /> Al E.Paszek,Vice President 401 East Colfax Avenue <br /> Walter A.Mucha,Secretary P.O.Box 1677 <br /> Kenneth P. Fedder,Counsel South Bend,Indiana <br /> Suzanne M.Rhadigan,Asst.Sec. <br /> 46634-1677 <br /> Members of the Common Council 219/234-0051 <br /> County-City Building <br /> South Bend, IN 46601 <br /> Re : The Raintree Point Apartment Project - Proposed Ordinance <br /> Dear Councilmen: <br /> The South Bend Economic Development Commission has received an <br /> application from Raintree Point Associates, Ltd. , an Indiana Limited <br /> Partnership, for the issuance of a multi-family housing revenue bond <br /> in the amount not to exceed $11, 000,000 to finance the cost of the <br /> acquisition, construction and equipping of a multi-family housing <br /> project to be located on approximately 7 . 5 acres of land in the East <br /> Bank Development Area. <br /> The Economic Development Commission, on November 1, 1985, passed an <br /> Inducement Resolution, a copy of which I am attaching herewith. <br /> It is anticipated upwards to 400 construction jobs are involved and, <br /> when the project is finally completed, we are looking at approximately <br /> 6 full and/or part-time jobs with an annual payroll of approximately <br /> $60, 000. <br /> This is new construction in the downtown corridor, Your favorable <br /> action on the passage of the Ordinance will be appreciated. <br /> Res\p-ectfully, <br /> • <br /> KENNETH P . FEDDER <br /> At oriiey for theSouth Bend FILED IA! j <br /> Economic Development Commission CLERKS OFFICE <br /> KPF:ram Ntiov 1 _ c <br /> attach. j W, <br /> 1 rene Ga�►r�© <br /> CITY CLERK,,SOUTH BEND on <br /> i <br />