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Peter H. Mullen <br />Director, Administration and <br />Finance <br />July 17, 1978 <br />CITY of SOUTH BEND <br />PETER J. NEMETH, Mayor <br />COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 <br />Members of the Common Council <br />City of South Bend <br />4th floor <br />County -City Building <br />South Bend, Indiana <br />Dear Council Members: <br />219/284 -9742 <br />There will be presented to you on July 24, 1978, an ordinance for the first <br />reading appropriating $10,000 from Revenue Sharing to repay the Community <br />Development Block Grant Fund based on a negative finding in the Community <br />Development first year audit. <br />If I may refresh your memories, in 1975, the City obtained federal funds to <br />save South Bend Lathe Corp. from either being sold or moved out of this area. <br />At that time, some of the preliminary work to obtain the South Bend Lathe loan <br />was funded through Community Development, on the advice of the past Director <br />of Community Development. The audit for that particular fiscal year recently <br />has been completed, and this particular expenditure has been declared ineligible, <br />and therefore must be repaid from other sources. <br />The particular item in question was a pre - feasibility study required by the <br />Economic Development Administration to even consider the loan. So while it <br />has turned out to be a non - eligible cost, the City would have had to do the <br />study anyway to obtain the loan funds. <br />If you hav ther questions, please feel free to contact my staff or my office. <br />P e H. u en <br />Contr ller <br />Director - Administration & Finance <br />