01-23-84 Council Meeting Minutes

Home Browse Search

REGULAR MEETING RESOLUTION NO. 1116 -84 JANUARY 23, 1984 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO SUBMIT AN URBAN DEVELOPMENT ACTION GRANT (UDAG) APPLICATION TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. WHEREAS, the City of South Bend is dedicated to pursuing economic development through financial and physical improvement strategies which contribute to the revitalization of the Central Downtown Urban Renewal Area, stimulate the local economy, and, thereby, benefit the people of South Bend as a whole; and WHEREAS., the creation of new jobs in the downtown will bolster the service, retail, and entertainment /restaurant businesses in the Central Downtwon Urban Renewal Area; and WHEREAS, the proposed office - retail complex fits into an overall development concept which emphasizes the need for a strong, growing office market around which the consolidation and reconstitution of retail will take place; and WHEREAS, a new anchor for the southern portion of the River Bend Plaza will be created which should inspire redevelopment of adjacent vacant commercial structures and thus enhance the Central Downtown Urban Renewal Area both physically and economically; and WHEREAS, the newly constructed office building will increase the property value of the currently underutilized site, ultimately broadening the tax base in our community; and WHEREAS, the receipt of an Urban Develpment Action grant would make the proposed development financially viable; and WHEREAS, there exist no alternative sources of public funds for this project, and, therefore, the project will not occur without the assistance of the Urban Develpment Action Grant. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: SECTION I. Hereby establishes the authority of the Mayor of the City of South Bend to submit under Title I of the Housing and Community Development Act of 1977, an Urban Develpoment Action Grant Application to the United States Department of Housing and Urban Development for an office - retail complex in the Central Downtown Urban Renewal Area. SECTION II. This resolution shall be in full force and effect immediately upon passage by the Common Council of the City of South Bend, Indiana, and approval by the Mayor. /s/ Beverlie J. Beck Member of the Common Council A public hearing was held on the resolution at this time. Kevin Horton, Director of Economic Development and Revelopment, indicated this UDAG grant is for 2.25 million, which will be used for a 9.4 million dollar office - retail complex to be built for the Holladay Corporation. He indicated this project was critical to the revitalization of the downtown, and will serve as an anchor to enhance the south end of River Bend Plaza. Council Member Serge made a motion to adopt this resolution, seconded by Council Member Puzzello. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO SUBMIT AN URBAN DEVELOPMENT ACTION GRANT (UDAG) APPLICATION TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. Council Member Puzzello made a motion to continue this resolution indefintely, seconded by Council Member Crone. The motion carried. RESOLUTION NO. 1117 -84 A RESOLUTION AUTHORIZING THE EXCUTION AND DELIVERY OF A MEMORANDUM OF INTENT BETWEEN THE CITY OF SOUTH BEND, INDIANA AND 227 MAIN STREET ASSOCIATES, AN INDIANA PARTNERSHIP PROVIDING FOR THE ISSUANCE BY SAID CITY OF ITS ECONOMIC DEVELOPMENT REVENUE BONDS PURSUANT TO THE PROVISIONS OF INDIANA CODE, TITLE 36, ARTICLE 7, CHAPTER 12, AS AMENDED.