Appropriating $288,000.00 Acquisition of Certain Real Estate

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ORDINANCE NO. AN ORDINANCE APPROPRIATING $288,000.000, FROM THE COMMUNITY DEVELOPMENT BLOCK GRANT FUND FOR THE ACQUISITION OF CERTAIN REAL ESTATE, TO BE ADMINISTERED BY THE CITY OF SOUTH BEND THROUGH ITS DIVISION OF COMMUNITY DEVELOPMENT AND THE BOARD OF PUBLIC WORKS STATEMENT OF PURPOSE AND INTENT: One municipal long -term objective is the revitalization of South Bend's Central Business District (CBD) through the execution of appropriate public activities which stimulate private investment and participation in the achievement of the aforementioned objective. Cognizant that CBD revi- talization must be based on the orderly transition of a declining retail center to a viable multi -use center, public action relates to the acquisition of certain real estate is now necessary to facilitate this process. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $288,000.00 is hereby appropriated for the program year starting July 7, 1978, from the Community Development Block Grant Fund (Program Year 1978). This appropriation is to be administered by the Division of Community Development and the Board of Public Works as set forth below: PROGRAM - CD -78 -1204 PURPOSE Acquisition of Odd Fellows Building AMOUNT $288,000.00 SECTION II. Funds provided through this appropriation shall not be expended prior to the release of funds by the United States Department of Housing and Urban Development pursuant to the provisions of 24CFR Part 58. SECTION III. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. cU__e MEMBER OF THE CO COUNCIL FILED IN Ili CLERK'S OFFICE 1st READING 3- 9 PUBLIC HEARIN10 2nd READING ? 3 w �G • i 7 :� 1979 NOT APPROVE REFERRED ,,�� Irene PASSED3 Gammon � R14 SOUR!! BEN.D� LIVD