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= CITY ®f SOUTH BEND <br />ROGER O. PARENT, Mayor <br />� d <br />0 <br />QW�c�Eao�° <br />Economic Development Commission <br />Jerry Hammes, President <br />Walter Szymkowiak, Vice President <br />Walter A. Mucha, Secretary <br />Kenneth P. Fedder, Counsel <br />Alice Neddo. Asst. Sec. <br />Members of the.South Bend <br />Common Council <br />County -City Building <br />South Bend, IN 46601 <br />September 19, 1984 <br />ANce Neddo <br />Staff Administrator <br />230 W. Jefferson Boulevard <br />P.O. Box 1677 <br />South Bend, Indiana <br />46634 -1677 <br />(219) 234 -0051 <br />Re: 181.8 Realty, an Indiana Partnership, Project - Proposed Ordinance <br />Dear Councilmen: <br />On September 5, 1984, we filed with the Clerk a proposed Ordinance <br />for an economic development bond for 1818 Realty, an Indiana <br />Partnership, for a revenue bond in the amount of $1,500,000.00, to <br />acquire, expand and equip manufacturing and office facilities for <br />use by Wells Electronics in the 1700 -1800 block of South Main Street, <br />South Bend, Indiana. The proposed Ordinance received a first reading <br />on September 10th and was scheduled for public hearing on September 24, <br />1984. However, I have been informed by the applicant that the <br />total amount of the proposed bond is now determined to be $830,000.00 <br />and I am herewith filing with the City Clerk an Amended Ordinance <br />to reflect the reduction in the revenue bond request to be at <br />$830,000.00. <br />The purpose of the project continues to remain for the benefit of <br />business enterprise in the community, and the estimated 20 new jobs <br />with an approximate payroll of $354,000.00 remains the same. <br />Your favorable action on this Amended Ordinance will be appreciated. <br />,6t-f'orney for the South Bend <br />Economic Development Commission <br />R tit, <br />net <br />KPF : ram <br />