HomeMy WebLinkAbout9431-03 Appropriating up to $1,000,000 from Economic Development State Grant Fund ( # 210) to be used by the Department of Public WorksORDINANCE No.
Passed by the Common Council of the Ciry of South Bend, Indiana
June 23,
Attest:
Attest:
Presented by me is the Mayor of the City of Sotttlt Bend, Indiana
June 24,
LORETTA J.
20 03
03
20
Ciry Clerk
esident of Common Council
City Clerk
Approved and signed by me June 24 20 03
Mayor
ORDINANCE NO. , ~ ~ ~ ~ - d-3
AN ORDINANCE APPROPRIATING UP TO $1,000,000 FROM THE CITY OF SOUTH
BEND'S ECONOMIC DEVELOPMENT STATE GRANT FUND (FUND 210) TO BE USED
BY THE DEPARTMENT OF PUBLIC WORKS TO FUND ENVIRONMENTAL
REMEDIATION ACTIVITIES AT THE FREDRICKSON PARK SITE
Statement of Purpose and Intent:
In order to assist in the provision of area revitalization efforts, monies from Fund 210
will be used to fund environmental remediation activities at the Fredrickson Park site for the
Department of Public Works.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The sum of up to $1,000,000 is hereby appropriated from the City of South
Bend's Economic Development State Grant Fund (Fund 210) to be used by the Department of
Public Works to fund environmental remediation activities at the Fredrickson Park site.
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.
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TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee of the Whole, to whom was referred:
BILL NO.
43-03 A BILL APPROPRIATING UP TO $1,000,000 FROM THE CITY OF
SOUTH BEND'S ECONOMIC DEVELOPMENT STATE GRANT
FUND (FUND 210) TO BE USED BY THE DEPARTMENT OF
PUBLIC WORKS TO FUND ENVIRONMENTAL REMEDIATION
ACTIVITIES AT THE FREDRICKSON PARK SITE
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 as substituted
with a title change from Fund 410 to Fund 210.
Karl King
Chairman
12U0 COUNTY-CfCY BUILDING
SOUTH BEND, INDIANA 4660I-1830
PHONE 574/ 235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY SL ECONOMIC DEVELOPMENT
JON R. HUNT
EXECUTIVE DIRECTOR
May 30, 2003
South Bend Common Council
Fourth Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Members:
The attached bill for your consideration and approval will appropriate $1,000,000 from the
Economic Development State Grant Fund to provide monies for environmental remediation of
the Fredrickson Park site. These funds will be used by the Department of Public Works for
environmental remediation at Fredrickson Park.
These funds have been made available through a Loan from the Indiana Development Finance
Authority in conjunction with the Indiana Department of Environmental Management. It will
utilize the Brownfields Cleanup Revolving Loan Fund that was funded by the U.S.
Environmental Protection Agency. Our Loan Agreement authorizes a loan up to $1,000,000
although only $789,900 is currently available to us. We expect that the remaining $210,100 will
be available later this summer. The Loan Agreement provides that we only need to repay 80% of
the Loan Amount assuming we meet the goals identified within the Agreement. Our loan is
scheduled to close on June 4, 2003.
Please call me at 235-9374 if you have any questions.
Sincerely,
~~~,
Ann E. Kolata
Senior Redevelopment Specialist
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CC: Gary Gilot
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235-9660 574/235-9371 ELIZABETH LEONARD
FAx: 5741235-9697 574!235-93it ~~ ,,