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Authorizing Issue its Economic Development Revenue Bonds (GEM Partnership Project) $1,000,000.00
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Authorizing Issue its Economic Development Revenue Bonds (GEM Partnership Project) $1,000,000.00
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Last modified
3/18/2013 3:45:14 PM
Creation date
3/18/2013 3:45:13 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/5/1985
Ord-Res Number
7501-85
Bill Number
89-85
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PARKER, BRUNNER & HAMILTON <br /> ATTORNEYS AT LAW <br /> 1100 HAZLITT BUILDING <br /> ROBERT M.PARKER 120 WEST LASALLE AVENUE <br /> TELEPHONE <br /> THOMAS J.BRUNNER,JR. SOUTH BEND, INDIANA 46601 (219)234-4149 <br /> JOHN C.HAMILTON <br /> TIMOTHY J.HARTZER <br /> July 17, 1985 <br /> Members of the South Bend <br /> Common Council <br /> 4th Floor <br /> County-City Building <br /> South Bend, IN 46601 <br /> Re: GEM Partnership <br /> Dear Council Members: <br /> GEM Partnership, an Indiana partnership, wishes to acquire <br /> and rehabilitate the Sears warehouse building located at 2920 W. <br /> Sample Street, South Bend, Indiana for use as a distribution and <br /> operations center by General Microcomputer, Inc. <br /> Members of the partnership are Christopher J. Murphy, III, <br /> Edwin S. Ehlers and Van E. Gates. <br /> An inducement resolution was filed with the Common Council <br /> on behalf of the partnership and approved on June 2, 1985. <br /> The enclosed ordinance indicates the intention of the <br /> partnership to seek industrial development revenue bonds issued <br /> by the City of South Bend in the aggregate principal amount of <br /> approximately $1,000,000.00. The proceeds of the bond issue <br /> will be used to purchase the Sears warehouse building and <br /> associated property and to carry out such construction as is <br /> required to convert the building into a distribution and <br /> operations center for General Microcomputer as follows: <br /> 1. Warehouse space: 40,000 square feet. <br /> 2. Service space: 5,000 square feet. <br /> 3 . Manufacturing space: 10,000 square feet. <br /> 4. Office space: 30,000 square feet. <br /> (two levels of 15,000 square feet each) . <br /> 5. Parking space: 200 cars (estimated) . <br />
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