HomeMy WebLinkAbout9440-03 Appropriating the proceeds derived fromt he Robert Bosch Braking Corporation - $1,500,000 within the State grants fund (Fund 210) - purpose of the rehabiltation of retention projectORDINANCE No.
9440-03
Passed by the Common Council of the City of South Bend, Indiana
July 28, 20 03
Attest:
Attest:
Presented by me to the Mayor of the City of South Bend, Indiana
July 29, 03
20
Ciry Clerk
esident of Common Cocrncil
Ciry Clerk
Approved and signed by me July 30 20 03
Mayor
ORDINANCE NO. l ~ ~ ~ ~ ~~
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,
APPROPRIATING THE PROCEEDS DERIVED FROM THE ROBERT BOSCH BRAKING
CORPORATION IN THE AMOUNT OF $1,500,000 WITHIN THE STATE GRANTS FUND (FUND
210) FOR THE PURPOSE OF FINANCING THE COSTS OF REHABILITATION OF PROPERTY
CONNECTED WITH THE ROBERT BOSCH CORPORATION RETENTION PROJECT
Statement of Purpose and Intent:
The City of South Bend, Indiana, has previously agreed to offer certain assistance to the
Robert Bosch Corporation in order to induce Bosch to retain and expand its facility in the City.
Accordingly, the City and Bosch have agreed to undertake certain activities in connection with
the acquisition, demolition, construction, rehabilitation, and environmental remediation of certain
property which Bosch formerly leased from Honeywell (formerly known as Allied Signal),
including infrastructure and other site improvements (the "Project").
In order to assure the efficient and timely utilization of the grant from St. Joseph County,
Indiana certain appropriations from State Grants Fund #210 are necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana, as follows:
Section I. The sum of $1,500,000 from proceeds derived from the Robert Bosch Braking
Corporation is hereby appropriated within Fund 210 for the acquisition, demolition, construction,
rehabilitation and environmental remediation of the Bosch Project real estate.
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.
~~~
ember of the Common Cou cil
1st READING ~~'l~'~-3
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3 rd READING '~_Z,~'_ a3
NOT APPROVED
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CITY CQ•~RY~,
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO,
56-03 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH
BEND, INDIANA, APPROPRIATING THE PROCEEDS DERIVED
FROM THE ROBERT BOSCH BRAKING CORPORATION IN THE
AMOUNT OF $1,500,000 WITHIN THE STATE GRANTS FUND
(FUND 210) FOR THE PURPOSE OF FINANCING THE COSTS OF
REHABILITATION OF PROPERTY CONNECTED WITH THE
ROBERT BOSCH CORPORATION RETENTION PROJECT
Respectfully report that they have examined the matter and that in their opinion, this bill is
being recommended to the full Council with a favorable recommendation.
Karl King
Chairman
1200 COUN~rr-CrrY BcnLDMG
SOUTH BEND, INDIANA 46601-1830
PHONE 574/235-9371
FAx 574/ 235-9021
TDD 5741235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY ~L ECONOMIC DEVELOPMENT
JON R. HUNT
EXECUTIVE DIRECTOR
July 8, 2003
Ms. Karen White, President
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Ms. White:
Re: Appropriation of $1,500,000 from Fund 210
Robert Bosch Project-Robert Bosch
Corp. Funds
The attached bill for your consideration and approval will appropriate $1,500,000 of funds from
Robert Bosch Braking Corporation which were deposited into State Grants Fund #210 for the
redevelopment costs of the Robert Bosch Braking Corporation retention project. These funds
also are companion to the IDFA loan, St. Joseph County grant, IDLF loan, AEDA TIF, BDC
loan and the IRF loan for work in the Airport Economic Development Area. Two companion
appropriations ordinances will also be filed this date resulting in a total of $3,500,000 in
appropriations from Fund #210 relating to the Bosch Project.
will attend your July , 2003 meeting to present this ordinance. Please call me at 235-5836 if
you have any questions.
Sincerely,
/ ~~ ' ~---
Robert D. Case
Sr. Economic Development Planner
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COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SL PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT ~' /~~~~
574/235-9660 574/235-9371 ELIZABETH LEONARD ~ V
FAx: 574/235-9697 574/235-93i1