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® pppp <br /> m®a <br /> ok 'l , <br /> �\\\ /� g1' CITY ®� SOUTH ;i1`A�119 <br /> i` �," _ ,)44%.9/ ROGER O. PARENT, Mayor <br /> Economic Development Commission <br /> Staff Administrator <br /> Jerry Hammes, President 401 East Colfax Avenue <br /> At E. Paszek, Vice President July 2' 1985 P.O. Box 1677 <br /> Walter A. Mucha, Secretary South Bend, Indiana <br /> Kenneth P. Fodder, Counsel 46634-1677 <br /> Denice Schock, Asst. Sec. 219/234-0051 <br /> Members of the South Bend <br /> Common Council <br /> County-City Building <br /> South Bend, IN 46601 <br /> Re : Industrial Fuels and Resources , Inc . - Proposed Inducement Resolution <br /> Dear Councilmen: <br /> The South Bend Economic Development Commission has received an application <br /> from Industrial Fuels and Resources , Inc . , an Indiana Corporation, for <br /> City of South Bend Economic Development Revenue Bonds in the amount of <br /> $2 , 000, 000 . 00, with interest thereon and maturity to be governed by the <br /> market conditions at the time of the sale of the Bonds . The Bond proceeds <br /> will be used to acquire and rehabilitate an economic development facility <br /> at 604 South Scott Street, South Bend, Indiana, and to purchase equipment <br /> to be utilized by the applicant , who is a petroleum processor. <br /> The new facility, when in operation, would result in approximately 19 new <br /> jobs to be added to the existing Company's payroll within the next 2 years <br /> resulting in an annual payroll of approximately $416, 000 . 00 . <br /> We would appreciate your favorable action on the passage of this <br /> Inducement Resolution. <br /> R O'ectfully, 1•. •� p <br /> K NETH P . FEDDER <br /> Att•rne; for the South Bend BLED IN CLERK'S OFFICE <br /> Eco ••• c Development Commission <br /> JUL 2 1985 <br /> KPF :ram <br /> RENE GAMMON <br /> CITY CLERK, SO. BEND, IN <br />