Expressing the City's Support Project Future in Calendar Years 2002 through 2006

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Resolution No. d37 —e` A RESOLUTION OF THE COMMON COUNCIL AND THE MAYOR OF THE CITY OF SOUTH BEND, INDIANA, EXPRESSING THE CITY'S SUPPORT TO PROJECT FUTURE IN CALENDAR YEARS 2002 THROUGH 2006 WbltrM, the Mayor and the Common Council of the City of South Bend, Indiana, acknowledge that for the past eighteen (18) years Project Future has promoted South Bend, Mishawaka and St. Joseph County for economic development purposes; and 'Q1 bl=08, over this period of time, Project Future has assisted in numerous major economic development projects in our community which have generated well over a billion dollars of investment and created thousands of new full -time jobs; and WijCrIMS, Project Future plans to continue to conduct an area -wide economic development program which will attract new businesses and foster the expansion of existing businesses and related development; and t btrC08, Project Future has requested from the City of South Bend, the City of Mishawaka, and St. Joseph County, respectively, a five (5) year commitment to assist in the funding of its economic development programs and its educational initiatives. )MU, t*T3d01C1Z, be it VZOA0 by the Common Council and the Mayor of the City of South Bend, Indiana, as follows: Section I. The City of South Bend, Indiana, pledges its support to Project Future in jointly working together to attract new businesses and jobs and to revitalize existing businesses in our community. Section II. Project Future has requested a five (5) year commitment from the City of South Bend of $110,000 in 2002, $110,000 in 2003, $110,000 in 2004, $110,000 in 2005 and $110,000 in 2006. Section III. The City of South Bend makes a total commitment of $550,000 to Project Future for calendar years 2002 through 2006, contingent upon the fiscal condition of the City in each of the five (5) designated years, and makes this commitment further subject to the annual budget review and approval process related thereto, and a submission of periodic accounting reports to the City Clerk by Project Future. Section IV. This Resolution shall be in full force and effect from and after ' option by the Corn Coupail ar d approval by the Mayor. Council Member James Aranowski Counci ember An r Ujdak Council President -CharlotteWfeife-r Council Member Sean Coleman