HomeMy WebLinkAboutCreating the South Bend Redevelopment Authority Addition New Section 2-57 Entitled South Bend Redevelopment Authority ORDINANCE NO. `7R/L1 -'7
AN ORDINANCE CREATING THE
SOUTH BEND REDEVELOPMENT AUTHORITY AND
AND AMENDING THE MUNICIPAL CODE BY THE
ADDITION OF A NEW SECTION 2-57 ENTITLED
SOUTH BEND REDEVELOPMENT AUTHORITY
STATEMENT OF PURPOSE AND INTENT: In 1987 the Indiana
General Assembly added to the Indiana Code Chapter 14. 5 of I .C.
36-7, which permits the Common Council to create a redevelopment
authority "as a separate body corporate and politic and as an
instrumentality of the unit to finance local public improvements
for lease to the [Redevelopment] commission." The South Bend
Redevelopment Commission at its November 27, 1987, meeting
recommended to the South Bend Common Council the creation of the
South Bend Redevelopment Authority, pursuant to I.C. 36-7-14.5
and indicated its intent to work with the South Bend
Redevelopment Authority, when created, to enter into a
lease-purchase agreement for construction and financing of a
parking garage at the corner of Wayne and St. Joseph Streets in
downtown South Bend.
NOW, THEREFORE, BE IT ORDAINED BY THE SOUTH BEND COMMON
COUNCIL, as follows:
Section 1: Chapter 2, Article 5 of the Municipal Code of
the City of South Bend, Indiana, is hereby amended by the
inclusion of new Section 2-57 which shall read in its entirety
as follows:
Section 2-57 The South Bend Redevelopment Authority is
hereby created, for the purposes and with all powers and duties
now or hereafter granted to it by law, as a separate body
corporate and politic and as an instrumentality of the City of
South Bend to finance local public improvements for lease to the
South Bend Redevelopment Commission.
Section 2: This ordinance shall be in full force and effect
from and after its adoption by the Common Council and approval
by the Mayor.
ITj4
Messer of he Common Coundif
CITY of SOUTH BEND
®govTti ROGER O. PARENT, Mayor
® �*:7,%d DEPARTMENT OF ECONOMIC DEVELOPMENT
e .�P - b 1200 COUNTY-CITY BUILDING SOUTH BEND, INDIANA 48801
® .<e::.,:.-:::::::... ,4+
JON R. HUNT
EXECUTIVE DIRECTOR Telephone 219/284-9371
ANN KOLA TA
DEPUTY EXECUTIVE DIRECTOR December 1 , 1987 Telefax 219/284-9892
South Bend Common Council
4th Floor, County-City Building
South Bend, IN 46601
Dear Council Members:
Enclosed is an ordinance creating the South Bend Redevelopment
Authority. Earlier this year, the Indiana General Assembly amended
the Redevelopment Statute to allow for the creation of a
Redevelopment Authority. The Authority will be used to finance and
construct the parking garage at the corner of Wayne and St . Joseph
Streets. The Redevelopment Commission will then lease the garage
from the Authority and those lease payments will be used to make
payments on the bonds the Authority will issue to finance the
garage. The Redevelopment commission will use garage revenues, UDAG
repayments and TIF revenues to make the lease payments. Through
this arrangement, the Commission expects to provide the badly needed
parking spaces at the best possible cost to the community.
This matter has been reviewed by the Redevelopment Commission
and it is their recommendation that the Authority be established by
the Common Council .
If you have any questions about this matter, I will be glad to
answer them. I respectfully request your approval of this
Ordinance.
Sincerely,
Ann E . Kolata
Deputy Executive Director
Attachment
AEK/ml.
3/f
REDEVELOPMENT COMMUNITY DEVELOPMENT HOUSING REHASILITA TION HUMAN RIGHTS FISCAL F. PROGRAM
ANN KOLA TA & BUSINESS ASSISTANCE KATHRYN BAUMGARTNER MARY E. ALLEN MANAGEMENT
2114-9371 DONALD INKS 254-9475 254-9355 ELIZABETH LEONARD
254-9335
254.9335
anmmtittr Report
On Bile Mammon Council of tip Qlidj of fband11 rnd:
Your Committee
of the Whole
to whom was referred
BILL NO.
136-87 A BILL CREATING THE SOUTH BEND REDEVELOPMENT AUTHORITY.
Respectfully report that they have examined the matter and that in their opinion
This bill should be recommended to the Council favorable, as amended in the
title and Section I.
Ann B. Puzzello
Chairman
t•Iltt SRtti asAEDN PUBLISHING CO.