HomeMy WebLinkAbout8492-94 Appropriating $37,500 Economic Development State Grant Fund Funding A Microloan Program •
ORDINANCE No. 8492-94
Passed by the Common Council of the City of South Bend, Indiana-
April 11, 94
19
Attest: e City Clerk
IRENE K. GAMMON
Attest: _ - President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana—
April 12, 94
19
City Clerk
IRENE K. GAMMON
Approved and sired by me / ig_7/
' Mayor
•
BILL NO.
ORDINANCE NO. 2 97.2-9
AN ORDINANCE APPROPRIATING $37,500 FROM THE ECONOMIC DEVELOPMENT STATE
GRANT FUND FOR THE PURPOSE OF FUNDING A MICROLOAN PROGRAM
Statement of Purpose and Intent:
The government of the City of South Bend, in partnership with the City's private sector and
residents, is committed to the goal of improving the "quality of life" in the City, its neighborhoods, and
for its residents. As part of this commitment to a comprehensive community development and
improvement program, the City of South Bend , through it Department of Community & Economic
Development wishes to help in the establishment of a Microloan Program. The fund will be used to
make loans to non-traditional entrepreneurs.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend,
Indiana, as follows:
SECTION I. The sum of $37,500 is hereby appropriated from the City of South Bend's
Economic Development State Grant Fund (Fund 210) to be used to help establish a Microloan Program.
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.
fdige /,
Me I of the Common /17 it
,"!'SOUTH 8,
w ""/,%, k City of South Bend
;
T•'\_, , )`, ,p Joseph E. Kcrnan. Mayor
1865 ..,,n'���
Community & Economic Development
Jon R.Hunt Ann E.Kolata
Executive Director Deputy Executive Director
March 21, 1994
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will appropriate $37,500 as the City's contribution
to a Microloan Program which will provide revolving loan fund monies for non-traditional entrepreneurs.
Please call Don Inks at 235-9278 if you have any questions.
Sincerely,
IP
iv abe Leonard
Director
Financial & Program Management
cc: Jon Hunt
Don Inks
John March
Kate Shrum
1200 County-City Building•South Bend,Indiana 46601 •219/235-9371 •Fax 219/235-9021
Redevelopment Business Assistance Bureau of Housing Financial&Program Planning&
Ann E.Kolata &Development Kathryn Baumgartner Management Neighborhood Development
235-9371 Donald E.Inks 521 Eclipse Place Elizabeth Leonard Pamela C.Meyer
235-9335 235-9475 235-9335 235-9660
Fax:235-9469 Fax: 235-9697
Qnmm{tur 1 pnrd
Xo tile (Summon QIounril of ilia fdihl of 01E14 grid:
Your Committee
of the Whole
to whom was referred
BILL NO.
38-94 SECOND READING ON A BILL APPROPRIATING $37,500 FROM THE
ECONOMIC DEVELOPMENT STATE GRANT FUND FOR THE PURPOSE OF
FUNDING A MICROLOAN PROGRAM.
Respectfully•report that they have examined the matter and that in their opinion
This bill has been recommended to the Council favorable.
Roland Kelly Chairman