Inductement Resolution Goodwill Industries of Michiana, Inc. Project 1805 Western Ave & 1904-1906 Ireland Rd.

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RESOLUTION NO. Z 1 � 1 O \ INDUCEMENT RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA (GOODWILL INDUSTRIES OF MICHIANA, INC., PROJECT) (1805 WESTERN AVENUE AND 1904 -1906 IRELAND ROAD) A RESOLUTION approving the findings ofthe South Bend Economic Development Commission with respect to the issuance of revenue bonds in the approximate amount of Two Million and 00 /100 Dollars ($2,000,000.00) for the financing of certain economic development facilities to be undertaken by Goodwill Industries of Michiana, Inc., and authorizing and committing the City of South Bend, Indiana, to proceed with such prof ect, subj ect to final action by this Common Council with respect to the terms and conditions of such financing. WHEREAS, the City of South Bend, Indiana (the "City "), is authorized by IC 36 -7 -11.9 and IC 36 -7 -12 (the "Act ") to issue revenue bonds for the purpose of financing the acquisition, installation, construction and equipping of economic development facilities; and WHEREAS, the City has been advised that there is under consideration a proposal of Goodwill Industries of Michiana, Inc. (the "Company "), to (i) construct an approximately forty thousand (40,000) square foot production and industrial services facility to be located on Western Avenue adjacent to the current Goodwill headquarters and processing plant at 1805 Western Avenue in the City; and (ii) construct an approximately eleven thousand (11,000) square foot new retail store to be located on Ireland Road near Ironwood Road at 1904 -1906 Ireland Road in the City (collectively, the "Project "); and WHEREAS, the Company has proposed that the City issue its revenue bonds under the Act to finance the Project under a financing agreement whereby the proceeds of such bonds ::ODMA\PCDOCS\SBDOCS 1\805 1 0\2