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� A C 1) <br />O� i;l fi l �O <br />Department of <br />Community Investment <br />1865 , <br />Memorandum <br />January 16, 2014 <br />TO: Redevelopment Commission <br />FROM: Larry Meteiver <br />SUBJECT: Resolution No. 3198 <br />The South Bend Career Academy is seeking the issuance of $4,000,000 in Qualified <br />Zone Academy Bonds for the Academy. These are tax credit bonds, and in no way the <br />obligation of the City or the Issuer. The Issuer of the Bonds will be the Public Finance <br />Authority, a Wisconsin issuer who is authorized to issue bonds nationwide. One of the <br />requirements for the issuance of the bonds is that a public hearing be held in the local <br />jurisdiction where the project is located. Notice was published in the South Bend <br />Tribune for a meeting that was held Monday, December 30, 2013 at 10 am. The public <br />hearing was convened by David Relos at the appointed time and place. No one <br />appeared. The meeting was adjourned. <br />The South Bend Career Academy project was previously approved by the Commission. <br />The Academy is now asking for the Commission's approval of this bond issuance <br />financing. <br />The staff of the Commission is recommending approval as this financing mechanism will <br />move the project forward and will not financially obligate the Commission or the City. <br />227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV <br />