Appropriating $80,000 from the Urban Development Action grant fund for the purpose of funding predevelopment costs

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ORDINANCE NO. ~ l ~ _~ AN ORDINANCE APPROPRIATING $80,000 FROM THE URBAN DEVELOPMENT ACTION GRANT FUND FOR THE PURPOSE OF FUNDING PREDEVELOPMENT COSTS Statement of Purpose and Intent This is a bill to appropriate $80,000 from the repayments to the Urban Development Action Grants program as the City's contribution to a predevelopment fund. This fund will be used to examine the development potential of several sites throughout the City and to fund the costs of doing so, such as site plans, feasibility studies, title and survey work, etc. Potential sites include: Oliver Plow Works site; Studebaker Corridor and Sample Street Industrial Corridor; Rum Village; Central Business District and the East Bank, as funds allow. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION 1. The sum of $80,000 is hereby appropriated within Fund 410 for predevelopment costs. SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. ~tb~i}ltnvl,A'L1 Member of the Common Council 1 sf R~ADlFIG ~-~-~q PUBLIC HEARING-I-1Z~`~~ 9.rd READING 1-\2-a~ NOt APPROVED REFERRED PASS~3 Z ~ ~ L' `~ ~ ~ ~k~ z ~ ~sss LD„~Pi:~3. C'3'Jfi: