Laserfiche WebLink
CITY OF SOUTH BE D I ECONOMIC DEVELOPMENT COMMISSION <br />July 9, 2024 <br />Commissioner Luis Zapata indicated that since First Source Bank is <br />involved in the 466 Works project and because of his connection to First <br />Source Bank as his employer, he will abstain during voting. <br />Secretary Renata Matousova asked when 466 Works would be able to <br />draw the funds. Mr. Glavich commented that they could draw up to <br />$116,000 as they begin construction of a home. Mr. Bauer commented <br />that the amount would be forgiven upon completion. <br />B. Public Hearing regarding loan <br />A notice was published in the South Bend Tribune on June 28, 2024, <br />regarding the public hearing on the 466 Works loan. <br />A Public Hearing regarding the loan was opened to the public for <br />comments and considerations. No comments were made by the public. <br />The Public Hearing was closed. <br />C. Approval of Project Report (466 Works - Southeast Neighborhood <br />Project) <br />The motion was made by Secretary Renata Matousova and seconded by <br />Commissioner Luiz Zapata. On the motion to approve the Project report: <br />■ Cecilia Lopez Monterrosa, President: YEA <br />• Rafael Morton, Vice -President: YEA <br />■ Renata Matousova, Secretary: YEA <br />• Luis Zapata, Commissioner: ABSTAIN <br />• Karen White, Commissioner: YEA <br />The motion carried with 4 YEAs and 1 Abstain; the Commission approved <br />the project report for the 466 Works Southeast Neighborhood Project on <br />July 9, 2024. <br />D. Approval Of Resolution No. 2024-2 Authorizing a Direct Loan to the <br />Developer of An Economic Development Facility (Southeast <br />Neighborhood Project) and Approving Other Matters In Connection <br />Therewith <br />The motion was made by Secretary Renata Matousova and seconded by <br />Commissioner Karen White. On the motion to approve Resolution No. <br />2024-2: <br />■ Cecilia Lopez Monterrosa, President: YEA <br />• Rafael Morton, Vice -President: YEA <br />• Renata Matousova, Secretary: YEA <br />• Luis Zapata, Commissioner: ABSTAIN <br />• Karen White, Commissioner: YEA <br />