HomeMy WebLinkAboutEconomic Development Revenue Bonds for Western Manor Community & Corby Homes CommunityAttest:
RESOLUTION
NO. 2426 -96
Passed by the Common Council of the City of South Bend, Indiana
November 25, 96
19
�IJ r c �etJ ON Clerk
Attest: -- r/ VL .0 President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
November 26, 19 96
City Clerk
Approved and signed by me
Mayor
RESOLUTION NO.
A RESOLUTION CONSENTING TO THE TRANSFER OF
JURISDICTION TO ST. JOSEPH COUNTY, INDIANA
REGARDING ECONOMIC DEVELOPMENT FACILITIES AND
THE ISSUANCE OF ST. JOSEPH COUNTY ECONOMIC
DEVELOPMENT REVENUE BONDS
(WESTERN MANOR COMMUNITY AND CORBY HOMES COMMUNITY)
STATEMENT OF PURPOSE AND INTENT
WHEREAS, the City of South Bend, Indiana, (the "City "), is a municipal corporation
and political subdivision of the State of Indiana and by Virtue of IND. CODE §36- 7 -12 -22 is
authorized and empowered to adopt this Resolution; and
WHEREAS, Western Manor Community, an Indiana Limited Partnership (Western
Manor) and Corby Homes Community, an Indiana Limited Partnership (Corby), with
principal offices located in South Bend, Indiana, at 425 N. Michigan Street, presently intends
to finance the renovation of affordable residential apartment facilities which are located in
the City of South Bend and to develop Daycare and Computer Learning facilities to serve the
residents of such housing at both Western and Corby which comprise "economic
development facilities" within the meaning of IND. CODE §36 -7- 11.9 -3 through the issuance
of economic development revenue bonds pursuant to the provisions of IND. CODE 36 -7 -12
et seq., as amended (the "Act "); and
WHEREAS, Western Manor and Corby currently provide 252 affordable housing
facilities; and
WHEREAS, there is a need to preserve affordable rental housing units within St. Joseph
County; and
WHEREAS, due to the county -wide purposes served by said facilities, the Common
Council of the City of South Bend wishes to transfer jurisdiction over said facilities and the
financing thereof pursuant to the Act to St. Joseph County. IND CODE §36- 7- 12 -22(b)
provides in relevant part that "...economic development facilities that are to be located within
the corporate boundaries of a municipality may not be financed by a County without the
consent of the fiscal body of the municipality..."
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY
OF SOUTH BEND, INDIANA, THAT the Common Council consents, pursuant to the
provisions of IND. CODE §36- 7- 12- 22(b), to the financing of said affordable residential
apartment facilities by St. Joseph. County, Indiana, and its Economic Development
Commission, and jurisdiction with respect thereto is hereby transferred to St. Joseph County,
Indiana.
This Resolution shall be in full force and effect immediately upon its adoption by the
Common Council and approval by the Mayor.
Dated this day of November, 1996.
PRESENTED /1-d5-96 Member, So end Common Council
NOT APPROVED
ADOPTED