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REGULAR MEETING APRIL 11 1983
<br />BILL NO. 28 -83 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND AMENDING
<br />CHAPTER 4, ARTICLE 4, SECTION 4 -51 COMMONLY KNOWN AS SCRAP
<br />METAL DEALERS, JUNK DEALERS, RECYCLING OPERATIONS AND TRANSFER
<br />STATIONS.
<br />This being the time heretofore set for public hearing on the above bill, proponents
<br />and opponents were given an opportunity to be heard. Council Member McGann made a
<br />motion to consider resolution 9D after public hearing on this bill, seconded by Council
<br />Member Harris. The motion carried. Kathy Cekanski- Farrand, Council Attorney, made
<br />the presentation for the bill. She indicateds this would amend the scrap metal dealers
<br />ordinance which presently prohibits the location of such a business within 1,000 feet
<br />for A and B residential areas, as well as C -1 and C -2 commercial areas. She indicated
<br />this would allow the Common Council to review specific waiver requests on a case by
<br />case basis, and would require full compliance with regard to all of the other provisions
<br />of the scrap metal dealers ordinance. Alma Flesch, 40 W. 57th Street, New York,
<br />attorney for STC Recycling, Inc., spoke in favor of this bill. She indicated STC
<br />would employee thirty to fourty people. Charles Bixler, president of STC, indicated
<br />they would be recycling copper and precious metals. He indicated that most of the
<br />operation is under one roof. Council Member Szymkowiak made a motion to recommend
<br />this bill to the Council favorable, seconded by Council Member Taylor. The motion
<br />carried.
<br />RESOLUTION NO. 1040 -83
<br />AN INDUCEMENT RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA,
<br />RELATING TO: STC REYCYCLING, INC. PROJECT.
<br />WHEREAS, at the present time there 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 benefitted by the acquisition
<br />and construction of economic development facilities in St. Joseph County pursuant to
<br />the provisions of Indiana Code 18 -6 -4.5 (the "Act "); and
<br />WHEREAS, Copelco Leverage Leasing Corp., a New Jersey corporation ( "Copelco")
<br />proposes to acquire economic development facilities in South Bend, Indiana as defined
<br />in the Act if the City will finance costs of such economic development facilities
<br />pursuant to the Act, which facilities are to be leased to STC Reycycling, Inc., a
<br />Delaware corporation; and
<br />WHEREAS, the South Bend Economic Development Commission has received an application
<br />by Copelco and STC Reycycling for the issuance of City of South Bend Economic Development
<br />Bonds in the approximate principal amount not to exceed One Million Two Hundred Thousand
<br />and no /100 Dollars ($1,200,000.00) with the terms of repayment to be determined by
<br />the market rates at the time the bonds are sold and the proceeds of ther bonds will
<br />be used to purchase equipment and make certain improvements to real estate in connection
<br />with the utilization of the equipment at 445 North Sheridan Avenue, South Bend, Indiana,
<br />which equipment will be leased to STC Recycling, Inc. for the purpose of conducting a
<br />metal and base manufacturing material a recovery process resulting in the creation of
<br />approximately Five Hundred Thousand and no /100 Dollars($500,000.00).
<br />NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves
<br />as follows:
<br />1. The project constitutes economic development facilities which shall be financed
<br />by the City through the issuance of revenue bonds pursuant to the Act and the City is
<br />willing, upon compliance with all provisions of Indiana law, to authorize approximately
<br />One Million Two Hundred Thousand Dollars ($1,200,000.00) of its revenue bonds, which
<br />bonds will not be general obligations of the City but will be payable solely from the
<br />limited sources authorized and permitted by the Act.
<br />-- 2. -- The proposed financing will be of benefit to the economic welfare of the
<br />City and will comply with the purposes and provisions of the Act.
<br />3. Copelco and STC Reycycling may proceed with acquisition ad construction of
<br />the economic development facilities in reliance upon this resolution.
<br />-- 4. That the liability and obligation fo the South Bend Economic Development
<br />Commission, the South Bend Common Council and the City of South Bend, Indiana, shall
<br />be limited solely to the good faith efforts to consummate such proceedings and issue
<br />such Bonds, and the South Bend Economic Development Commission and the City of South
<br />Bend, Indiana, their officers and agents, shall not incur any liability if for any
<br />reason the proposed issuance of such Bonds is not consumated.
<br />This Inducement Resolution shall be in full force and effect from and after its
<br />adoption by the Common Council and approval by to Mayor.
<br />/s/ John Harris, Jr.
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Kenneth Fedder, attorney
<br />for the Economic Development Commission, indicated this bond issue would be used for
<br />equipment and machinery to be leased to STC Recycling, Inc. He indicated they anticipated
<br />that they will initially employ 30 people. Bert Handwork, 1111 N. Niles, spoke in
<br />favor of this resolution. Council Member Szymkowiak made a motion to adopt this
<br />resolution, seconded by Council Member Taylor. The resolution was adopted by a roll
<br />call vote of nine ayes.
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