Appropriating $1,600,000.00 Section 108 Loan Guarantee Program

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ORDINANCE NO. Q(o 07-Fll AN ORDINANCE APPROPRIATING $1,600,000.00 FROM THE SECTION 108 LOAN GUARANTEE PROGRAM OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974, AS AMENDED, FOR ACQUISITION, RELOCATION AND CLEARANCE ACTIVI- TIES IN THE EAST BANK AND MONROE- SAMPLE DEVELOPMENT AREAS, TO BE ADMINISTERED BY THE CITY OF SOUTH BEND THROUGH THE DEPARTMENT OF REDEVELOPMENT. STATEMENT OF PURPOSE AND INTENT: The government of the City of South Bend, in creative and affirmative partnership with its residents, private enterprise and the Federal Government, is committed to the goal of expanding economic opportunities. To further this goal, the Housing and Community Development Act of 1974, as amended, contains the objective of alleviating physical and economic distress through stimulation of private investment and elimination of blighting conditions. The City believes that land in the areas commonly known as East Bank and Monroe - Sample is characterized by a number of conflicting and incompatible uses, causing the areas to be vulnerable to continued blight and decay, or to indiscrim- inate development. It has, therefore, become a local priority, as articulated in the designation of the East Bank Development Area and Monroe - Sample Development Area, and as indicated in the 1979 -81 Community Development Plan, to devote local and federal funds to improve the physical and functional aspects of the areas. Realization of Development Area objectives will be accomplished by a combina- tion of public and private actions. These actions include, but are not limited to, the following: property acquisition, relocation, clearance, vacation and dedica- tion of public rights -of -way, provision for public facilities and improvements and any other activity pertaining to planning and implementing an urban redevelopment plan. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I: The sum of $1,600,000.00 is hereby appropriated from the Section 108 Loan Guarantee Program. This appropriation is to be administered by the De- partment of Redevelopment, as set forth below: PROGRAM CD79/80- 602B /D Purpose East Bank/Monroe- Sample Development SECTION II: This ordinance shall be in after its passage by the Common Council and 1st READING 3 -a -7 -% U2I!c HEARING . :F J READING NOT APPROVED REFERRED nn PASSED Amount $1,600,000.00 TOTAL $1,600,000.00 force and effect from and val by the Mayor. FILED ID CLEIRETS OFFICE Irene Gammon CITY CLERK, SOUTH BEND,IND.