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01-08-01 Council Meeting Minutes
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01-08-01 Council Meeting Minutes
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City Council - City Clerk
City Council - Document Type
Council Mtg Minutes
City Counci - Date
1/8/2001
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REGULAR MEETING JANUARY 8, 2001 <br />by the Common Council and approved by the Mayor. <br />s /Charlotte Pfeifer <br />Member of the Common Council <br />Mr. Bob Tennyson, CEO, 759 West Chippewa Avenue, South Bend, Indiana, made the presentation <br />for this Resolution. <br />Mr. Tennyson indicated that they plan to invest a couple of millions of dollars to expand their <br />production capabilities which will allow them to maintain their competitiveness as the area slowly <br />changes with the advent of the H2 plant in Mishawaka. He noted that they are going to have to <br />develop more sophisticated manufacturing techniques. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to this <br />Resolution, Councilmember Coleman made a motion to adopt this Resolution. Councilmember <br />Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of eight <br />(8) ayes. <br />RESOLUTION NO. 2961 -01 AN INDUCEMENT RESOLUTION OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA <br />(GOODWILL INDUSTRIES OF MICHIANA, INC., <br />PROJECT) (1805 WESTERN AVENUE AND 1904 -1906 <br />IRELAND ROAD) <br />A RESOLUTION approving the findings of the South Bend Economic Development <br />Commission with respect to the issuance of revenue bonds in the approximate amount of Two <br />Million and 00 /100 Dollars ($2,000,000.00) for the financing of certain economic development <br />facilities to be undertaken by Goodwill Industries ofMichiana, Inc., and authorizing and committing <br />the City of South Bend, Indiana, to proceed with such project, subject to final action by this <br />Common Council with respect to the terms and conditions of such financing. <br />WHEREAS, the City of South Bend, Indiana (the "City "), is authorized by IC 36 -7 -11.9 and <br />IC 36 -7 -12 (the "Act ") to issue revenue bonds for the purpose of financing the acquisition, <br />installation, construction and equipping of economic development facilities; and <br />WHEREAS, the City has been advised that there is under consideration a proposal of <br />Goodwill Industries of Michiana, Inc. (the "Company "), to (i) construct an approximately forty <br />thousand (40,000) square foot production and industrial services facility to be located on Western <br />Avenue adjacent to the current Goodwill headquarters and processing plant at 1805 Western Avenue <br />in the City; and (ii) construct an approximately eleven thousand (11,000) square foot new retail store <br />to be located on Ireland Road near Ironwood Road at 1904 -1906 Ireland Road in the City <br />(collectively, the "Project "); and <br />WHEREAS, the Company has proposed that the City issue its revenue bonds under the Act <br />to finance the Project under a financing agreement whereby the proceeds of such bonds would be <br />utilized to construct the Project and the Company would make payments sufficient to pay the <br />principal of, premium, if any, and interest on such bonds; and the Company has further advised the <br />City that a determination by the City to accept such a proposal for financing the Project will <br />constitute a substantial inducement to the Company to proceed with the Project; and <br />WHEREAS, the Company has submitted evidence regarding the adverse competitive effect <br />of the Project on similar facilities already constructed or operating in the City; and <br />WHEREAS, it is estimated that the Project will result in approximately fifty (50) permanent <br />jobs with an estimated total annual payroll, including benefits, of $800,000; and <br />
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