HomeMy WebLinkAbout8494-94 Appropriating $100,00 Economic Development Grant fund r •. .
ORDINANCE No. 8494-94
Passed by the Common Council of the City of South Bend, Indiana.
April 11, 94
- 19
Attest: 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
��� — Mayor
•
BILL NO.
ORDINANCE NO. Y 9e
AN ORDINANCE APPROPRIATING $100,000 FROM THE ECONOMIC DEVELOPMENT
STATE GRANT FUND FOR THE PURPOSE OF ADDING TO THE NEIGHBORHOOD
DEVELOPMENT CORPORATION'S REVOLVING LOAN FUND 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 assist in the growth of the Neighborhood Business Development Corporation's
revolving loan fund program. The fund will be used to make loans to commercial strip entrepreneurs.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend,
Indiana, as follows:
SECTION I. The sum of $100,000 is hereby appropriated from the City of South Bend's
Economic Development State Grant Fund (Fund 210) to be used to add to the NBDC revolving loan fund
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.
1,-4_ of the Comm, �.uncil
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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 $100,000 as the City's Good
Neighbors/Good Neighborhoods contribution to the Neighborhood Business Development Corporation's
revolving loan fund for commercial strip entrepreneurs.
Please call Don Inks at 235-9278 if you have any questions.
Sincerely,
goy_ i
abet 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
(tnmmtttn Erpnr#
Oki the f]ommon Qlounril of tip faitg of'ontlt Ben):
Your Committee
of the Whole
to whom was referred
BILL NO.
40-94 SECOND READING ON A BILL APPROPRIATING $100,000 FROM THE
ECONOMIC DEVELOPMENT STATE GRANT FUND FOR THE PURPOSE OF
ADDING TO THE NEIGHBORHOOD DEVELOPMENT CORPORATION'S
REVOLVING LOAN FUND PROGRAM.
Respectfully-report that they have examined the matter and that in their opinion
This bill has been recommended to the Council favorable.
Chairman
Roland Kelly