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1200 COUNTY -CITY BUILDING <br />SOUTH BEND, INDIANA 46601 -1830 <br />July 23, 2003 <br />PHONE 574/ 235 -9371 <br />FAX 5741235-9021 <br />TDD 574/ 235 -5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY & ECONOMIC DEVELOPMENT <br />South Bend Common Council <br />Fourth Floor Council Chambers <br />400 County-City Building <br />South Bend, IN 46601 <br />Dear Council Member: <br />The attached resolution will approve the issuance of up to $6.0 million in Economic <br />Development Revenue Bonds for the Erskine Village Project. Proceeds of this bond will be used <br />to commence Phase I of this project, including demolition of the former Montgomery Ward <br />building, along with utility relocation and other site improvements. Repayment of this bond will <br />be from Tax Increment Financing funds generated by the project. It is anticipated that Phases II, <br />III and IV will be funded through a later Redevelopment Revenue Bond. When completed this <br />project will encompass 510,000 square feet of retail and restaurant development. <br />I will make the presentation to the Council at your July 28 meeting. If you have any questions, <br />please call me at 235 -9339. <br />Sincerely, <br />H: \WPDATA\Don\comc0 cove2.wpd <br />Filed to Clerks Office <br />LORHTTAJ�.•� O,1Pe. <br />CttY CLER!<, <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. Mevea DONALD E. INrc MANAGEMENT <br />5741235 -9660 5741235 -9371 ELIzseerx LE.NAaD <br />FAx: 574/235 -9697 574/235 -9371 <br />V 11. <br />Donald E. Inks <br />Director, Economic <br />Development <br />H: \WPDATA\Don\comc0 cove2.wpd <br />Filed to Clerks Office <br />LORHTTAJ�.•� O,1Pe. <br />CttY CLER!<, <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. Mevea DONALD E. INrc MANAGEMENT <br />5741235 -9660 5741235 -9371 ELIzseerx LE.NAaD <br />FAx: 574/235 -9697 574/235 -9371 <br />V 11. <br />