05-29-73 Council Meeting Minutes

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.............................................. #3- -f-- .. F + + + + + + + + + + + + + + + + + + + ++ REGULAR MEETING MAY 29, 1973 Be it remembered that the Common Council of the City of South Bend met in the Council Chambers of the County -City Building on Tuesday, May 29, 1973, at 7:06 p.m., Council President Peter J. Nemeth presiding. The meeting was called to order and the Pledge to the Flag was given. ROLL CALL PRESENT: Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Horvath, Newburn and Nemeth. ABSENT: Councilman Kopczynski. Councilman Taylor made a motion to resolve into the Committee of the Whole, seconded by Councilman Horvath. The motion carried. COMMITTEE OF THE WHOLE MEETING Be it remembered that the Common Council of the City of South Bend met in the Committee of the Whole on Tuesday, May 29, 1973, at 7:07 p.m., with eight members present and one member absent. Chairman Odell Newburn presided. ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION OF A LEASE, TRUST INDENTURE, ECONOMIC DEVELOPMENT REVENUE BONDS AND MORTGAGE AND THE FORMS AND TERMS OF THE LEASE AND TRUST INDENTURE AND BONDS AND MORTGAGE AND THE ISSUANCE OF ECONOMIC DEVELOPMENT REVENUE BONDS PERTAINING TO CURTIS L. CROFOOT. This being the time heretofore set for public hearing on the above ordinance, proponents and opponents were given an opportunity to be heard. Mr. Kenneth Fedder, Attorney for the Economic Development Commission, made the presentation for the ordinance. He explained that the request fo issuance of the bonds was for the purpose of acquisition and renovation of property located at 902 1020 West Sample Street and that the major portion of the renovation would be the tearing down of some of the dilapidated buildings in the immediate vicinity. He compared this to the renovation o the buildings in the downtown area. He concluded by indicating that the total project cost would be approximately $300,000, with the number of jobs to be created at approximately 12 and additiona tax base to be realized. Councilman Szymkowiak made a motion that the ordinance go to the Council as favorable, seconded by Councilman Taylor. The motion carried.