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Industrial Development Revenue Bonds - Schafer Gear Works Inc Project
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Industrial Development Revenue Bonds - Schafer Gear Works Inc Project
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Last modified
5/14/2013 3:59:26 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/28/1981
Ord-Res Number
6962-81
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COMMISSION RESOLUTION NO. -- <br />WHEREAS, the City of south Bend, Indiana, still has insuf- <br />ufficient tax base and insuf- <br />ficient employment opportunities, ins <br />ficient diversification of economic development facilities, which <br />conditions are harmful to the health, prosperity, economic stability <br />and general welfare of the area and, if not remedied, will be detri- <br />mental to the development of such area and its environs; and <br />WHEREAS, Schafer Gear Works, Inc., an Indiana corporation, <br />has filed an application with the South Bend, Economic Development <br />Commission ( "Commission ") to finance the installation and constrtrc- <br />tion of an approximate 10,000 sq. ft. expansion (facilities) to the <br />on realty situated <br />main plant building of Schafer Gear Works, Inc., <br />at and commonly known as 814 S. Main Street, South Bend, Indiana, <br />46624 including new walls, roof, flooring, partitions, ceilings, <br />ibution system, and <br />lighting, service wiring and. outlets, air distr <br />other facilities commonly incorporated in a plant expansion to con - <br />stituted economic development facilities resulting in the creation of <br />a substantial number of new jobs as well as other benefits; and <br />WHEREAS, Commission has prepared and placed on file a report <br />as specified in IC 18- 6 -45 -16 and has forwarded copies to the Chair <br />l - <br />man of the St. Joseph ..County Area Pan Commission and the Superinten- <br />dent of the South Bend Community School Corporation where the eco- <br />nomic development facilities are proposed'to be located and has re- <br />ceived favorable reports from each of them; and <br />ission has found on behalf of the City of <br />WHEREAS, Comm <br />sed financing will be of benefit t< <br />South Bend, Indiana that the propo <br />the health and welfare of the City of South Bend, Indiana, and com- <br />plies with the purposes and provisions of the Indiana Code of 1971, <br />Title 18, Chapter 6, Article 4.5 as amended; and <br />WHEREAS, Commission has considered and determined that suc <br />proposed economic development facilities will not have an adverse cc <br />petitive effect on similar facilities already constructed or opera- <br />ting in the City <br />Of South Bend, Indiana, and environs. <br />NOW, THEREFORE, the South Bend Economic Development Commi <br />blic hearing on not less than fiv< <br />Sion at this meeting, being a pu <br />(5) days notice of the proposed financing of such economic develop <br />
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