07-23-84 Council Meeting Minutes

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REGULAR_ MEETING- JULY.. 23,, _1984 area qualifies as an Economic Revitalization Area under Indian Code 6 -1.1- 12.1 -1, et seq., and has further prepared maps and plats showing the boundaries and such other information as _required by law of the area in question; and WHEREAS, the Human Resources and Economic Development Committee of the Common Council has reviewed said report and recommended to the Common Council that the area qualifies as an Economic Revitalization Area. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City ofSouth Bend, Indiana, as follows: SECTION I.- That the Common Council hereby accepts the report and recommendation of the Human Resources and Economic Development,Committee that the area herein described be designated an Economic revitalization Area'and.hereby adopts a Resolution designating this area as an Economic Revitalization Area for purposes of Real property tax abatement. SECTION II. That this designation shall be limited to five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION I'II. That the Common Council directs the City Clerk to cause notice of the adoption of this Resolution to be published, said publication providing notice of the public hearing before the Common Council on said declaration. SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Bevelrie J. Beck Member of the Common Council A public hearing was held on the resolution at this time. Robert Peltz, 1328 E. Washington, indicated that they were requesting this abatement, in order that Slutsky- Peltz could move their facility to the Monroe - Sample Area. Council Member Serge made a motion to adopt this resolution, seconded by Council Member Braboy. The resolution was adopted by a roll call vote of eight ayes. RESOLUTION NO. 1178 -84 AN INDUCEMENT RESOLUTION OF THE SOUTH ABEND COMMON COUNCIL RELATING TO THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS TO MAPLE LANE ASSOCIATES, PHASE VIII WHEREAS, the City of South Bend, Indiana still has insufficient employment opportunities, insufficient tax base and insufficient diversification of economic development facilities, which conditions are harmful to the health, prosperity, economic stability and general welfare of the area and, if not remedied, will be detrimental to the development of such area and its environs; and WHEREAS, Maple Lane Associates, Phase VLII, an Indiana limited partnership (the "Borrower") has filed an application with the South Bend Economic Development Commission ( "Commission ") to finance the acquisition and improvement of real estate located in South Bend, Indiana, to constitute economic development facilities (the "Project ") resulting in the creation of '-a substantial number of new jobs, as well as other benefits and WHEREAS, Commission has prepared and placed on file a report as specified in Indiana Code 36- 7 -12 -23 and has forwarded copies to the Chairman of the St. Joseph County Area Plan Commission where the economic development facilities are proposed to be located; and WHEREAS, the South Bend Economic Development Commission has determined by a resolution that the Project will be of benefit to the health and welfare of the City and that the Project complies with the Act; and WHEREAS, to induce the Borrower to acquire and improve the Project, theCity desires to adopt this Resolution; and WHEREAS, it is apparent that the development of the Project will provide needed decent, safe and sanitary housing for persons in the City, maintain existing levels of employment, assist in relieving conditions of unemployment in construction and related industries and encourage the increase of commerce in the State of Indiana, all of which are in the public interest of the City; and WHEREAS, the financing of the proposed Project through the issuance of the hereafter- described Bonds of the City complies with the requirements of the Act and will provide for and promote the public health safety, morals and welfare of the inhabitants in and near the City; NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: Section 1. That approval is hereby given to the application of the Borrower relating to the acquisition, construction and improvement of such real estate and the 192 unit rental housing project to be constructed thereon. 1 1 C I I I� �LJ