HomeMy WebLinkAboutApproving a lease for certain land & public Improvements for South Bend Development area ORDINANCE No. 8058-90
Passed by the Common Council of the City of South Bend, Indiana
January 8, 90
1g
Attest: " ° ' City Clerk
IRENE K. GAMMON
7
Attest: / _i �� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indian°
January 9, 90
? City Clerk
IRENE K. GAMMON
Approved and signed by me January 9 ig(17C `'� Mayor
ORDINANCE NO. 1052- 90
AN ORDINANCE OF THE COMMON COUNCIL
OF THE CITY OF SOUTH BEND, INDIANA
APPROVING A LEASE FOR CERTAIN LAND AND PUBLIC
IMPROVEMENTS BETWEEN THE SOUTH BEND REDEVELOPMENT AUTHORITY
AND THE SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the South Bend Redevelopment Authority (the "Authority")
at a meeting on November 16, 1989, adopted Resolution No. 14, which,
among other things, approved a proposed lease between the Authority
and the South Bend Redevelopment Commission (the "Commission") to be
dated as of November 1, 1989, for certain land and public
improvements (the "Project") and directed the Secretary of the
Authority to file a copy of said lease, as approved, with the
Commission; and
WHEREAS, the Commission, at a meeting on November 17, 1989,
approved the proposed lease, scheduled a public hearing on said lease
to be held on December 8, 1989, pursuant to IC 36-7-14-25.2, and
authorized the publication of a notice of public hearing on said
lease pursuant to IC 5-3-1; and
WHEREAS, on December 8, 1989, said public hearing was held and
all interested parties were provided the opportunity to be heard at
the hearing; and
-1-
WHEREAS, the Commission, at its meeting on December 8, 1989,
adopted Resolution No. 901 finding, pursuant to IC 36-7-14.5-14, that
the rental payments to be paid by the Commission to the Authority
pursuant to the lease, at a rate not to exceed Seven Hundred
Forty-Nine Thousand Dollars ($749,000) per year in semiannual
installments beginning on the day the Project is completed and ready
for use, or July 31, 1991, whichever is later, through expiration of
the lease, are fair and reasonable, and finding, pursuant to
IC 36-7-14-25.2, that the use of the Project throughout the term of
the lease will serve the public purpose of the City of South Bend and
is in the best interests of its residents; and
WHEREAS, said Resolution No. 901 further directed the Secretary
of the Commission to file with the Common Council of the City of
South Bend (the "Common Council") an approving ordinance for the
purposes of said Council's finding, prior to the Commission's
execution of the lease, that the rental payments are fair and
reasonable and that the use of the Project throughout the term of the
lease will serve the public purpose of the City of South Bend and is
in the best interests of its residents, and for purposes of approving
the lease; and
WHEREAS, the Common Council desires to approve said lease,
pursuant to IC 36-7-14-25.2, which provides that any lease approved
by a resolution of the Commission must be approved by an ordinance of
the fiscal body of the unit;
-2-
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND:
1. That the Common Council finds that the rental payments, as
approved by the Commission, are fair and reasonable, and further
finds that the use of the Project throughout the term of the lease
will serve the public purpose of the City of South Bend and is in the
best interests of its residents.
2. The Common Council hereby approves said lease, as approved
by the Commission, pursuant to IC 36-7-14-25.2, in substantially the
form provided at this meeting and attached hereto as Exhibit "A".
3. This Ordinance shall be in full force and effect from and
after passage by the Common Council and approval by the Mayor.
COMMON COUNCIL 0 SOUTH BEND, INDIANA
Byli d Lae: /1
of the C•f ,/•n Council
12-11-89
G MS In Clerk's Office
1st READING OH" + ire 13OS
PUBLIC HEARING l— 8-90
3rd READING —CO f' S 11;(, -T,1'['��T'
NOT APPROVED —3— :1:, .' :I:'� It
REFERRED
PASSED I' ?"90
_ pUTH \4
ti' 41
i /c t '<.:..�/, ; I
i li
1 fi t :�';`�!4 Z
/A 141;. \ y 1 City of South Bend
//�' (9"'- ,-;i,/,11-'' Joseph E. Kernan, Mayor
lll $� �a}�i
Department of Economic Development
Jon R. Hunt Ann E. Kolata
Executive Director Deputy Executive Director
December 11, 1989
Members of the Common Council
4th Floor, County-City Building
South Bend, Indiana 46601
Dear Council Members:
The attached ordinance approves a lease between the South Bend
Redevelopment Authority and the South Bend Redevelopment Commission
for certain land and public improvements in the South Bend Central
Development Area.
The lease establishes a maximum annual rental payment of
$749, 000. This amount is an estimate and will be lowered after we
receive bids for the construction of the public improvements. The
Commission will use Tax Increment Finance funds to make the lease
payments.
I will be happy to answer any questions you have regarding the
public improvements and the financing and ask your approval of this
Ordinance.
Sincerely,
Ann E. Kolata
Deputy Executive Director
1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9892
Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights
Ann Kolata & Business Assistance Kathryn Baumgartner Management Cynthia Love-Bush
284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355
284-9335 284-9475 284-9335