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Authorizing Submission of application for loan by the Indiana development finance authority relating to Bosch
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Authorizing Submission of application for loan by the Indiana development finance authority relating to Bosch
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Last modified
5/20/2009 2:44:18 PM
Creation date
10/28/2008 3:29:26 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
1/22/2001
Ord-Res Number
9192-01
Bill Number
5-01
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ORDINANCE NO. l ~ 12- - © l <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA AUTHORIZING THE <br />SUBMISSION OF AN APPLICATION FOR A LOAN FROM <br />THE ENVIRONMENTAL REMEDIATION REVOLVING <br />LOAN FUND ADMINISTERED BY THE INDIANA <br />DEVELOPMENT FINANCE AUTHORITY RELATING TO <br />THE ROBERT BOSCH CORPORATION RETENTION <br />PROJECT AND TO LOAN THE PROCEEDS THEREOF TO <br />THE ROBERT BOSCH CORPORATION <br />STATEMENT OF PURPOSE AND INTENT: <br />The City of South Bend, Indiana (the "City") has previously determined to offer <br />certain assistance to Robert Bosch Corporation ("Bosch") in order to induce Bosch to retain and <br />expand its facility in the City. Accordingly, the City and Bosch have agreed to undertake certain <br />activities in connection with the acquisition, demolition, construction, rehabilitation, and <br />environmental remediation of certain property (the "Property") which Bosch formerly leased from <br />Honeywell (formerly known as Allied Signal), including infrastructure and other site improvements <br />(the "Project") and have memorialized their intentions in an Agreement for the Use and <br />Rehabilitation of Real Property (the "Agreement")and Real Property Lease Agreement (the "Lease") <br />(the "Agreement" and the "Lease" sometimes collectively referred to herein as the "Project <br />Documents"). The Agreement provides that the City and Bosch will undertake the Project in return <br />for Bosch's commitment to meet certain levels of employment. In addition, the City has acquired <br />the Property and the City and Bosch have entered into the Lease pursuant to which Bosch will lease <br />the Property from the City. <br />C:\WINDOWS\TEMP\#99998-2. WPD <br />
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