HomeMy WebLinkAboutAppropriating $9,963,000 1982 Urban Development Action GrantORDINANCE No. :z„ti -22
Passed by the Common Council of the City of South Bend,
e
October 11, 1982
Clerk
IRENE K. GAMMON
�V 11=
of Common Council
Presented by me to the Mayor of the City of South Bend,
October 12 �9 82
Clerk
IRENE K. GAMMON
Approved and signed by me �9 e Z
c
SUBSTITUTE BILL
BILL NO.
ORDINANCE NO. 7 OI6 J'c2
AN ORDINANCE APPROPRIATING $9,963,000 FROM THE
1982 URBAN DEVELOPMENT ACTION GRANT FOR
PURPOSES OF ECONOMIC DEVELOPMENT.
STATEMENT OF PURPOSE AND INTENT:
In furtherance of its goal of expanding economic
development and opportunity in the community the Common Council
desires to take all reasonable action to assist new business enter-
prises which will create jobs and contribute to the financial
stability and well being of the South Bend area. To that end, the
funds herein appropriated will be used to facilitate the location of
an ethanol plant to be built by New Energy Company of Indiana in the
City of South Bend.
NOW THEREFORE, BE IT ORDAINED by the Common Council of the
City of South Bend, Indiana, as follows:
SECTION I. The sum of $9,963,000.00 in Urban Development
Action Grant monies is hereby appropriated to be used as follows:
Purpose Amount
For South Bend Development Corporation for limited
partnership shares of New Energy Company of
Indiana $5,000,000
For South Bend Development Corporation for loans
for on -site improvements of ethanol plant site 2,638,000
For Off -site improvements relating to ethanol
project 1,596,000
Contingency, engineering and administration
relating to ethanol project 729,000
SECTION II. This Ordinance shall be in full force and
effect from and its passage by the Common Council and approval
by the Mayor.
Passed, - as amended,
NO-
October 11, 1982
,ommon G
FILED IN CLERK`S DFFICE
OCT 61082
Irene Gammon
C" CLERK' SOf �� ®D_
Jon R. Hunt
Executive Director
Ann Kolata
Dep. Dir. Repay.
Kevin Horton
Dep. Dir. Ec. Dev.
Redevelopment Commission
F. Jay Nimtz
President
Lloyd E. Robinson, Sr.
Vice President
A. Peter Donaldson
Secretary
Paula N. Auburn
Assistant Secretary
Roman Piasecki
Member
CITY ®f SOUTH BEND
ROGER O. PARENT, Mayor
DEPARTMENT OF REDEVELOPMENT
1200 COUNTY-CITY BUILDING • SOUTH BEND, INDIANA 46601 • (219) 284 -9371
South Bend Common Council
4th Floor County -City Bldg.
South Bend, IN 46601
Dear Council Members:
September 21, 1982
Attached is an ordinance appropriating $9,963,000 from the 1982 Urban
Development Assistance Grant for purposes of economic developmemt.
$7,638,000 is to be used by South Bend Development Corporation for
limited partnership shares of New Energy Company of Indiana and for
loans for on -site improvements at the ethanol plant site. The
remaining $2,325,000 will be used by the City for off -site improve-
ments relating to the ethanol plant.
You will note that this appropriation is subject to the approval of
South Bend's application for an Urban Development Assistance Grant.
Please contact me if you feel that you need further information on
this matter.
Sincerely,
Jon R. Hunt
Executive Director
JRH /clt
cc: Roger Parent, Mayor
Richard L. Hill,
City Attorney
(Cnmatnur Irport
Rio tot (domum (Qoumil of 144 ( un of -61W4 frnd:
Your Committee OF THE WHOLE
to whom was referred
BILL NO. 113 -82 A BILL APPROPRIATING $9,963,000 FROM THE 1982
URBAN DEVELOPMENT ASSISTANCE GRANT FOR
PURPOSES OF ECONOMIC DEVELOPMENT.
Respectfully report that they have examined the matter and that in their opinion THIS BILL SHOULD BE RECOMMENDED
TO THE COUNCIL FAVORABLE, AS AMENDED:
BY SUBSTITUTION OF A NEW BILL
JOHN VOORDE
Chairman
rase ,een "JEW ,ne u,eiaa co.