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RESOLUTION <br /> Substitute Bill No. 11-57 <br /> A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br /> INDIANA,SUPPORTING FINANCIAL INCENTIVES CONSISTENT WITH CITPPLAN <br /> WHICH WILL ATTRACT AND LEVERAGE PRIVATE INVESTORS TO PROVIDE <br /> EQUITY INVESTMENT FOR THE ECONOMIC REHABILITATION OF THE TALLEST <br /> BUILDING IN DOWNTOWN SOUTH BEND LOCATED AT 211-213 WEST WASHINGTON <br /> AND WHICH REFLECT SUSTAINABLE RENOVATIONS WHICH INCORPORATE <br /> COMPREHENSIVE LEED-CERTIFED TECHNOLGIES <br /> the Common Council of the City of South Bend, Indiana, notes that the <br /> building located at 211-213 West Washington was constructed in 1971,consists o€25-stories <br /> and is located in the heart of downtown South Bend;and <br /> the Council further notes that the property is currently subject to an"Agreed <br /> Order for Immediate Appointment of Receiver"in the St.Joseph Circuit Court;and <br /> the South Bend Common Council believes that this structure is vital to the <br /> overall viability as an integral part of the economic engine because of its key location in the <br /> county seat of St.Joseph County,Indiana;and <br /> City Plan was adopted by the South Bend Common Council with the <br /> adoption of Resolution No. 3657-06 in 2006 which specifically stressed within its <br /> "Implementation Action Plan",the need to: <br /> Expand Economic Opportunities <br /> Ensure Quality Design and Physical Development <br /> Conduct Planning and Analysis <br /> the Common Council further believes that time is of the essence,and that the <br /> City Administration and the Redevelopment Commission should develop with the Council an <br /> incentive package which will attract private investors to provide equity investment for the <br /> economic rehabilitation of the building Iocated at 211-213 West Washington, which is <br /> consistent with the goals and objectives set forth in this Resolution. <br /> Q- 4 a e d 96.,d <br /> C� as follows: <br /> Section 1. The South Bend Common Council believes that the City Administration <br /> and the Redevelopment Commission should immediately begin to collaborate with the <br /> Common Council in developing an incentive package which will attract private investors to <br /> provide equity investment for the economic rehabilitation of the building commonly known as <br /> the Chase Tower located at 211-213 West Washington in downtown South Bend. <br /> Section II. The South Bend Common Council further believes that such an incentive <br /> package should not provide any funding or other incentives which would provide for an unfair <br /> market advantage which would be inconsistent with any current legal and binding agreements <br /> which provide incentives to maintain their presence in downtown South Bend. <br /> Section 111. The South Bend Common Council believes that in addition to having <br /> such an incentive package be consistent with the goals and objectives set forth in City Plan, <br /> that such a package should also promote private capital investment in this building which <br /> would promote sustainable renovations reflecting comprehensive leed-certified technologies <br /> which would attract new business and jobs to this downtown South Bend location. <br /> Section IV. The Common Council calls upon representatives of the City <br /> Administration,the Redevelopment Commission and the Council to collaborate and report <br />