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RESOLUTION NO. 1316-g <br /> RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF <br /> SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO <br /> SUBMIT AN URBAN DEVELOPMENT ACTION GRANT (UDAG) <br /> APPLICATION TO THE U.S. DEPARTMENT OF HOUSING AND <br /> URBAN DEVELOPMENT <br /> WHEREAS, the City of South Bend is dedicated to pursuing <br /> economic development through promoting growth of businesses which <br /> stimulate the local economy and thereby benefit the people of <br /> South Bend as a whole; and <br /> WHEREAS, the Griffith Laboratories project will benefit the <br /> local economy, specifically by creating new manufacturing jobs <br /> and new construction jobs, by generating new taxes on real and <br /> personal property, by utilizing vacant land, and by contributing <br /> to the construction of a new building and infrastructure <br /> development in the South Bend community; and <br /> WHEREAS, the location of Griffith Laboratories, an export <br /> industry, into the South Bend area fits into our overall <br /> development concept as it will contribute to the restoration and <br /> diversification of our industrial base, as well as serve to <br /> encourage related industrial developments; and <br /> WHEREAS, the receipt of an Urban Development Action Grant <br /> would make the proposed development financially feasible as it <br /> will allow Griffith Laboratories to exceed the limit on capital <br /> expenditures imposed by industrial revenue bond financing , an <br /> essential ingredient to financing this project. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE <br /> CITY OF SOUTH BEND, INDIANA: <br /> SECTION I. Hereby establishes the authority of the Mayor of <br /> the City of South Bend to submit under Title I of the Housing and <br /> Community Development Act of 1977 , an Urban Development Action <br /> Grant Application to the United States Department of Housing and <br /> Urban Development for an industrial project to be constructed by <br /> Griffith Laboratories . <br /> SECTION II . This Resolution shall be in full force and <br /> effect immediately upon passage by the Common Council of the City <br /> of South Bend, Indiana, and approval by the Mayor. <br /> _ - t <br /> M'm.er o the Co ion ouncil <br /> 6t <br /> JUL 17 'Qu <br /> PRESENTED 71t a R : $J" � ;v <br /> NOT APPROVED CITY CLERK, SO. BEND, IN <br /> ADOPTED 7 - a a- S C <br />