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REGULAR MEETING <br />REGULAR MEETING - RECONVENED (CONTINUED) <br />A RESOLUTION SETTING FORTH THE NEED FOR ECONOMIC <br />DEVELOPMENT <br />WHEREAS: <br />.0 W11VR-.1W <br />Resolution No. 11 -73 <br />The City of South Bend is still experiencing <br />a high unemployment situation, and <br />By virtue of the need for additional <br />industrial and economic development, and <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Commission that because of <br />insufficient employment opportunities and <br />insufficient diversification of industry, the <br />economic welfare of the city would be benefited <br />by approving the application of Allied Products <br />Corporation for the equipping, remodeling and <br />enlarging of its existing facilities in South <br />Bend. <br />THIS RESOLUTION ADOPTED BY THE ECONOMIC DEVELOPMENT <br />COMMISSION OF THE CIVIL CITY OF SOUTH BEND, INDIANA, <br />THIS 13th DAY OF APRIL, 1973. <br />s/ Karl G. King, Jr. <br />President - Karl G. King, Jr. <br />s/ Peter J. Nemeth <br />Vice President - Peter J. Nemeth <br />s/ Walter Mucha <br />Secretary - Walter Mucha <br />REPORT OF CITY OF SOUTH BEND <br />ECONOMIC DEVELOPMENT COMMISSION <br />MAKING CERTAIN ESTIMATES <br />Pursuant to the Municipal Economic Development Act of 1965, as amended, the City <br />of South Bend Economic Development Commission is required to make certain estimates in <br />regard to the equipping, remodeling and enlarging of its existing facilities in South <br />Bend by the Allied Products Corporation. The estimates are as follows: <br />(1) The number of public services or facilities, including streets, <br />sidewalks, schools, sewers, street lights, fire and police protection <br />which would be made additional necessary or desirable on account of the <br />proposed project are none and the expenses therefore are none. <br />(2) The total project cost of the proposed project will be approximately <br />$4,000,000.00. <br />(3) The number of jobs to be created by the proposed facilities would <br />be upwards of 100 with an estimated annual payroll increase up to <br />$1,100,000.00. <br />Allied Products Corporation has been in our community since 1964. The expansion <br />of their operations here is vital to community growth and will mean additional spending <br />power in the area of $1,000,000.00. The company has committed contracts for work and <br />the total additional taxes derived by the magnitude of the equipment to be installed <br />will be substantial. <br />April 13, 1973 <br />Mr. Aaron H. Huguenard, President <br />Board of School Trustees <br />South Bend Community School Corporation <br />635 South Main Street <br />South Bend, Indiana <br />Dear Mr. Huguenard: <br />Pursuant to the Municipal Economic Development Act of 1965, as amended, I am enclosing <br />a copy of the report of the City of South Bend's Economic Development Commission making <br />certain estimates pertaining to the application of Allied Products Corporation of South <br />Bend. <br />I would appreciate your immediate attention and indication of your approval. <br />Sincerely, <br />s/ Karl G. King, Jr. <br />KGK /kl President <br />cc: Jerry J. Miller, Mayor, City of South Bend <br />Peter Nemeth, President, South Bend City Council <br />James A. Roemer, South Bend City Attorney <br />Kenneth Fedder, Counsel, Economic Development Commission <br />Charles W. Lunger, Div. Pres., Allied Products Corporation <br />Kenneth B. Light, Corporate Sec. & Dir. Corporate Law Dept. <br />Allied Products Corporation <br />