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REGULAR MEETING JUNE 14, 1982
<br />A part of Lot Numbered 7 as shown on the Original Plat of the Town, now City,
<br />of south Bend, St. Joseph County, Indiana, which part is bounded by a line
<br />running as follows, fiz: Beginning on the North line of Colfax Avenue in said
<br />City, at a point 66 feet Wst of the South East corner of said lot, thence running
<br />North 66 feet to the North line of said Lot; thence West on said North line a
<br />distance of 22 feet; thence South 16 feet; thence East 6 inches; thence South
<br />50 feet to the South line of said Lot and North line of said Colfax Avenue;
<br />thence East on said line 21 1/2 feet to the place of beginning.
<br />is an Urban Development Area; and
<br />WHEREAS, the Area Plan Commission has submitted to the Council its written
<br />order approving for the Declaratory Resolution to the Council; and
<br />WHEREAS, notice of the adoption of a Declaratory Resolution and public hearing
<br />for the purposes of hearing persons in favor of the proposed project and those remostra
<br />who were opposed to the proposed project; and
<br />WHEREAS, the Council has determined the public utility and benefit of the project.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, as follows:
<br />SECTION I. That the Common Council hereby confirms its Declaratory
<br />Resolution designating the area described herein as an Urban Development
<br />Area for purposes of tax abatement consideration and confirm its determination of
<br />the project's public utility and benefit.
<br />SECTION II. This resolution shall be in full force and effect from and after
<br />its adoption by the Common Council and approval by the Mayor.
<br />/s /Beverly Crone
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Robert Parker, attorney
<br />reepresenting the petitioner, indicated this abatement was for the relocation of the
<br />Griffon Book Store. Council Member Taylor made a motion to adopt this resolution,
<br />seconded by Council Member Dombrowski. The resolution was adopted by a roll call
<br />vote of eight ayes.
<br />RESOLUTION NO. 964 -82 AN INDUCEMENT RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, INDIANA: RELATING TO CURTIS PRODUCTS, INC.
<br />WHEREAS, at the present time here are insufficient employment opportunities and
<br />insufficient diversification of business, commerce and industry in and near the City
<br />of South Bend, Indiana (the "City "); and
<br />WHEREAS, the economic welfare of the City would be benefited by the acquisition
<br />and construction of economic development facilities in St. Joseph County pursuant to
<br />the provisions of Indiana Code 36- 7 -12 -1, as amended (the "Act "); and
<br />WHEREAS, Curtis Products, Inc., an Indiana corporation duly organized and existing
<br />under the laws of the State of Indiana ( "Curtis Products ") proposes to acquire real
<br />estate and construct economic development facilities in the City ofSouth Bend, Indiana,
<br />as defined in the Act if the City will finance the costs of such economic development
<br />facilities pursuant to the Act; and
<br />WHEREAS, the South Bend Economic Development Commission has received an application
<br />by Curtis Products, Inc. for the issuance of City of South Bend Economic Development
<br />Bonds in an approximate amount of not to exceed One Million Two Hundred Thousand
<br />($1,200,000.00) Dollars repayable over a period not to exceed twenty (20) years and
<br />on terms governed by existing market rates at the time such bonds are issued in
<br />order to acquire real estate and construct a manufacturing facility to be used by
<br />the corporation for the purposes of manufacturing automotive, agricultural and other
<br />products in such facility resulting in improving and promoting job opportunities and
<br />commercial diversification within and near South Bend, Indiana; and
<br />WHEREAS, the said Curtis Products, Inc., after considering a number of possible
<br />locations within and outside the State of Indiana and the City of South Bend, and in
<br />reliance upon the intent of the City of Finance the project through the issuance of
<br />revenue bonds under the provisions of the Act above referred to, has determined to
<br />construct the project within the limits of lthe City of South Bend, Indiana.
<br />NOW, THEREFORE, be it resolved by the Common Council of the City of South Bend,
<br />Indiana, as follows:
<br />1. The project constitutes economic development facilities which shall be
<br />financed by the City of South Bend through the issuance of revenue bonds pursuant to
<br />the Act and the City of South Bend is willing, upon compliance with all provisions
<br />of Indiana law, to authorize a bond issue not to exceed One Million Two Hundred
<br />thousand ($1,200,000.00) Dollars of its revenue bonds, which bonds will not be general
<br />obligations of the City of South Bend but will be payable solely from the limited
<br />sources authorized and permitted by the Act.
<br />.'s
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