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REGULAR MEETING <br />JOSEP'. <br />APAR <br />FACI <br />WHEREAS, the City of Sout <br />municipal corporation and poli <br />Indiana and by virtue of IND. <br />empowered to adopt this Resolu <br />WHEREAS, South Bend Herit <br />Indiana not - for - profit corpora <br />in South Bend, Indiana, at 914 <br />intends to finance affordable <br />which are located in the City <br />"economic development faciliti <br />§36 -7- 11.0 -3 through the issua <br />bonds pursuant to the provisio <br />amended (the "Act "); and <br />OCTOBER 14, 1996 <br />COUNTY ECONOMIC DEVELOPMENT <br />E BONDS (SOUTH BEND HERITAGE <br />TION INC., GREENSPRINGS MANOR <br />ENT PROJECT) TO FINANCE SAID <br />TIES <br />Bend, Indiana (the "City "), is a <br />cal subdivision of the State of <br />de §36- 7 -12 -22 is authorized and <br />on; and <br />ge Foundation, Inc., ( "SBHF "), an <br />ion with principal offices located <br />Lincoln way West, presently <br />esidential apartment facilities <br />f South Bend and which comprise <br />s" within the meaning of IND. Code <br />ce of economic development revenue <br />s of IND. CODE 36 -7 -12 Et seq., as <br />WHEREAS, SBHF is experien ed in the development of <br />affordable residential facilities, having participated in the <br />development of West Washington Homes and Heritage Homes southeast <br />projects; and <br />WHEREAS, there is a need for affordable residential <br />apartment units within St. Jos ph County; and <br />WHEREAS, due to the count <br />facilities, the Common Council <br />to transfer jurisdiction over <br />thereof pursuant to the Act of <br />7- 12 -22(b) provides in relevan <br />development facilities that ar <br />corporate boundaries of a muni <br />County without the consent of <br />municipality..." <br />NOW, THEREFORE, BE IT RES <br />CITY OF SOUTH BEND, INDIANA, T <br />pursuant to the provisions of <br />financing of the affordable re <br />Indiana renovation and improve <br />Joseph County, Indiana and its <br />and jurisdiction with respect <br />St. Joseph County, Indiana. <br />This Resolution shall be <br />immediately upon its adoption <br />by the Mayor. <br />Dated this 14th day of <br />A public hearing was held on tl <br />Krcmeric, attorney, made the p: <br />indicated these resolutions tri <br />the issuance of economic develo <br />Bend to St. Joseph County. He <br />necessary in order that the Cif <br />requirement for qualified tax -4 <br />Coleman made a motion to adopt <br />by Council Member Hosinski. T] <br />call vote of nine ayes. Counc: <br />adopt Resolution No. 2417 -96, : <br />The resolution was adopted by <br />-wide purposes served by said <br />of the City of South Bend wishes <br />aid facilities and the financing <br />St. Joseph County. IND. CODE §36- <br />part that "...economic <br />to be located within the <br />ipality may not be financed by a <br />he fiscal body of the <br />LVED BY THE COMMON COUNCIL OF THE <br />AT the Common Council consents, <br />ND. CODE §36- 7- 12- 22(B), to the <br />idential apartment facilities by <br />ent of said facilities by St. <br />Economic Development Commission, <br />hereto is hereby transferred to <br />full force and effect <br />the Common Council and approval <br />1996. <br />r, South Bend Common Council <br />ie resolutions at this time. Mark <br />:esentation for the bills. He <br />insferred jurisdiction regarding <br />>pment bonds from the City of South <br />noted that this transfer is <br />.y can stay under the $10,000,000 <br />sxempt obligations. Council Member <br />Resolution No. 2415 -96, seconded <br />ie resolution was adopted by a roll <br />.1 Member Luecke made a motion to <br />seconded by Council Member Coleman. <br />roll call vote of nine ayes. <br />1 <br />F1 <br />