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COMMISSION RESOLUTION NO. 13 -81 <br />WHEREAS, the City of South Bend, Indiana, still has insufficient <br />employment opportunities, insufficient tax base and insufficient <br />diversification of economic development facilities, which conditions <br />are harmful to the health, prosperity, economic stability and general <br />welfare of the area and, if not remedied, will be detrimental to the <br />development of such area and its environs; and <br />WHEREAS, ROBERT H. FRESHLEY has filed an application with the <br />South Bend Economic Development Commission ( "Commission ") to finance <br />the relocation, expansion and remodeling of an existing building <br />located at 416 West LaSalle Street, South Bend, Indiana, which <br />building will be leased to BASIC MACHINE PRODUCTS COMPANY, INC., <br />which is engaged in the general machine tool business; and <br />WHEREAS, Commission has prepared and placed on file a report as <br />specified in IC 18- 6- 4.5 -16 and has forwarded copies to the Chairman <br />of the St. Joseph County Area Plan Commission and the Superintendent <br />of the South Bend Community School Corporation where the economic <br />development facilities are proposed to be located and has received <br />favorable reports from each of them; and <br />WHEREAS, Commission has found on behalf of the City of South Bend, <br />Indiana that the proposed financing will be of benefit to the health <br />and welfare of the City of South Bend, Indiana, and complies with the <br />purposes and provisions of the Indiana Code of 1971, Title 18, <br />Chapter 6, Article 4.5 as amended; and <br />WHEREAS, Commission has considered and determined that such <br />proposed economic development facilities will not have an adverse <br />competitive effect on similar facilities already constructed or <br />operating in the City of South Bend, Indiana, and environs; <br />NOW, THEREFORE, the South Bend Economic Development Commission <br />at this meeting, pursuant to IC 36- 7- 12 -24, being a public hearing <br />on not less than ten (10) days' notice of the proposed financing of <br />such economic development facilities, does now find that the proposed <br />