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REGULAR MEETING SEPTEMBER 24, 2001 <br />THE COSTS OF REHABILITATION OF PROPERTY IN <br />CONNECTION WITH THE ROBERT BOSCH <br />CORPORATION RETENTION PROJECT, TOGETHER <br />WITH EXPENSES INCIDENTAL THERETO, INCLUDING <br />EXPENSES IN CONNECTION WITH THE ISSUANCE OF <br />THE BOND <br />Councilmember White made a motion to combine Bill Nos. 90 -01 and 91 -01 for purposes of Public <br />Hearing. Councilmember Aranowski seconded the motion which carried by a voice vote of nine (9) <br />ayes. <br />Councilmember Kelly made a motion to consider the substitute version of Bill No. 90 -01 as <br />submitted. Councilmember Coleman seconded the motion which carried by a voice vote of nine (9) <br />ayes. <br />Councilmember Kelly reported that the Community and Economic Development Committee and <br />Personnel and Finance Committee met on these bills and recommends them to the Council <br />favorably. <br />Mr. Bob Case, Economic Development Specialist, Community & Economic Development, 1200 <br />County -City Building, South Bend, Indiana, made the presentation for these bills. <br />Mr. Case stated that this bill is for $1 million, amortized over fifteen (15) years, from the Industrial <br />Development Loan Fund, for The Robert Bosch Retention and Expansion package. He noted that <br />the City has been working with Bosch for some time and is happy that they decided to stay in South <br />Bend. <br />Councilmember King asked Mr. Case to comment on the fact that as part of the overall Bosch <br />Project, Bosch has received from the Indiana Environmental Remediation Revolving Loan Fund <br />a $1 million dollar loan, which they will be paying back, to use to do environmental clean up. Mr. <br />Case stated that The Robert Bosch Corporation has applied for a $1.3 million dollar loan from the <br />Indiana Development Finance Authority Brownfield Loan Fund for environmental clean up of the <br />existing facility. He noted that Honeywell is also part of the state voluntary remediation program <br />in order to clean up the entire area. He further noted that the $1.3 million dollars will be used on <br />the interior of the building to clean up hazardous materials. Councilmember King stated that the <br />$1.3 million dollars is a loan to be paid back to the Environmental Remediation Revolving Loan <br />Fund and is not a grant. <br />This being the time heretofore set for the Public Hearing on the above bills, proponents and <br />opponents were given an opportunity to be heard. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to <br />these bills, Councilmember Coleman made a motion for favorable recommendation to full Council <br />concerning Bill No. 90 -01, as substituted. Councilmember Varner seconded the motion which <br />carried by a voice vote of nine (9) ayes. Additionally, Councilmember Kelly made a motion for <br />favorable recommendation to full Council concerning Bill No. 91 -01. Councilmember Coleman <br />seconded the motion which carried by a voice vote of nine (9) ayes. <br />BILL NO. 92 -01 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA <br />AUTHORIZING THE ISSUANCE AND SALE OF BONDS <br />FOR THE PURPOSE OF REFUNDING OUTSTANDING <br />CITY OF SOUTH BEND, INDIANA SEWAGE WORKS <br />REFUNDING REVENUE BONDS OF 1993; AND <br />-7- <br />