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�4so13T11.a� I Filed in Clerk's Office <br /> W, z MAY 06 2019 <br /> PEACE <br /> x x KAREEMAH FOVWLER <br /> 1865 CITY CLERK,SOUTH REND,IN <br /> CITY OF SOUTH BEND <br /> COMVUNITY INVESTMENT <br /> May 6, 2019 <br /> Mr.Tim Scott, President <br /> South Bend Common Council <br /> 4th Floor County City Building <br /> South Bend, IN 46601 <br /> RE: Economic Development Revenue Bonds 2018 (Cedar Glen) <br /> Dear President Scott: <br /> Attached for the Council's consideration is a resolution supporting the issuance of bonds to fund <br /> improvements at Cedar Glen Apartments located at 425 25th Street in South Bend, to be developed by <br /> Merchants Affordable Housing Corp. and owned by MAH Cedar Glen LLC. <br /> The issuance of these bonds will fund the rehabilitation of 179 units as well as other exterior <br /> improvements to the building and property. These improvements will provide much needed upgrades <br /> to the 179 unit apartment community for low and moderate income persons. Additionally, there has <br /> been a commitment of a minimum of 5 units as permanent supportive housing. <br /> The Economic Development Commission met on April 16th and approved the Preliminary Resolution and <br /> Report and Finding of Facts attached with the Council resolution. In addition to Lory Timmer of <br /> Neighborhood Development/DCI, representatives of Merchants Affordable Housing Corporation will be <br /> presenting at the May 13, 2019 Council meeting. <br /> Thank,y,r your con ideration, <br /> amela C. Mey- <br /> Director <br /> DANIEL" BC CKE.S\IEYER AI.KE\-\.\ALI)RIN,I'. P\\II.I.\\IEYLR TIM CORCORA\ <br /> BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC:E\IPO\A ERNIE\h NEIGHBORHOOD DEVELOPMENT PLANNING&COMMUNITY RESOURCES <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend.Indiana 46601 p 574.235.9371 www.southbendin.gov <br />