Appropriating $2,400,000 of Section 108 Loan funds, plus interest earned thereon, for use of rehabilitation, construction and redevelopment activities

Home Browse Search

ORDINANCE NO. ~~~~/-~(~ AN ORDINANCE APPROPRIATING $2,400,000 OF SECTION 108 LOAN FUNDS, PLUS INTEREST EARNED THEREON, FOR USE IN REHABILITATION, CONSTRUCTION AND REDEVELOPMENT ACTIVITIES STATEMENT OF PURPOSE AND INTENT: In order to assure the efficient and timely utilization of Section 108 funds and that the immediate needs of specific activities are met, appropriation of funds is necessary. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $2,400,000 of Section 1081oan funds, plus interest earned on such funds, is hereby appropriated for use in downtown redevelopment activities (including acquisition of land for the Studebaker Museum), rehab of the Center for the Homeless and construction of an addition to the LaSalle Park Recreation Center. SECTION II. No costs will be incurred or funds expended for any of the activities addressed in this ordinance prior to an official release of funds received from the United States Department of Housing and Urban Development. SECTION III. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval of the Mayor. ~c,~m~ Member of the Common Council 1st READING ~- ~~ - 9 b PU6LIC HEARING ~ - g_ 9 3rd READING ? , 9 . 9 g NOT APPROVED REFERRED nn PASSED ~ ,g- L~ ~' rl~ ,S U~S T ~~ Z' l~ ~~~ & r~~{ -, ptsp.a~ ~ 9~ ,:~::