Appropriating $100,000 of US Dep of Housing/Urban Dev Econ Dev Initiative grant funds in fund 209 for Studebaker- Oliver

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ORDINANCE NO. ~ ~ ~ ~ ~ ~ 2-- AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND APPROPRIATING $100,000 OF UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ECONOMIC DEVELOPMENT INITIATIVE GRANT FUNDS WITHIN FUND 209 FOR THE PURPOSE OF REDEVELOPMENT OF THE STUDEBAKER-OLIVER PROJECT AREA Statement of Purpose and Intent: On March 25, 2002 this Council approved a Resolution authorizing the Mayor to submit an application to the United States Department of Housing and Urban Development (HUD) for a $100,000 Economic Development Initiative Grant. The Mayor having submitted the application which has been approved by HUD in the maximum sum of $100,000, it is necessary to appropriate such funds for the purpose of demolition and revitalization work in the Studebaker/Oliver Redevelopment Project. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $100,000 from a United States Department of Housing and Urban Development Economic Development Initiative grant is hereby appropriated within Fund 209 for use in redevelopment activities (including acquisition, relocation, demolition, site preparation, environmental studies and clean-up, disposition, etc.) taking place in the Studebaker-Oliver Redevelopment Project Area. SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. ~~~ Member of the Common uncil 1 st READING S Zg-dz- PUBLIC HEARING (p -~ Q -O'L 3rd READING (p _~~_pZ NOT APPROVED REFERRED PASSED ~.j -\ (~ -02. i