05-11-87 Council Meeting Minutes

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REGULAR MEETING MAY 11,1987 305 Traffic Signal Imp. on Ireland Road $ 7,128.50 8604 Sample Street Improvements 53,158.74 Total Reduction $60,287.34 SECTION II. That this resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s/ Joseph T. Serge Member of the Common Council A public hearing was held on the resolution at this time. John Leszczynski, Director of Public Works, indicated resolution closes out these projects and frees up the remaining funds for use on other projects. Council Member Barcome made a motion to adopt this resolution, seconded by Council Member Taylor. The resolution was adopted by a roll call vote of nine ayes. Council Member Voorde made a motion to combine public hearing on the next two resolutions, seconded by Council Member Barcome. The motion carried. RESOLUTION NO. 1505 -87 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO SUBMIT AN APPLICATION TO THE INDIANA DEPARTMENT OF COMMERCE FOR THE STATE INVESTMENT INCENTIVE PROGRAM FUND (SIBLEY MACHINE AND FOUNDRY CORPORATION) WHEREAS, the City of South Bend id dedicated to pursuing economic development through promoting growth of businesses which stimulate the local economy and thereby benefit the people of South Bend as a whole; and WHEREAS, the Sibley Machine and Foundry Corporation project will benefit the local economy, specifically by increasing foundry employment by 75 jobs in South Bend, and, in time, add an additional 15 -40 local machining jobs; and WHEREAS, the acquisition of General Casting Corporation assets in Waukesha, Wisconsin by Sibley would serve to introduce approximately $6.5 million of sales volume to the South Bend operations, utilize the drastically underutilized capacity of both the machining and and casting operations, and stabilize the future employment potential for the existing work force of 195; and WHEREAS, the receipt of a State Investment Incentive Grant will enable the City of South Bend to finance a portion of the acquisition costs of manufacturing equipment necessary to allow Sibley Machine and Foundry Corporation to increase their sales and thus enhance the long term viability of the entire Sibley operation. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: SECTION I. Hereby establishes the authority of the Mayor of the City of South Bend to submit a State Investment Incentive Grant application to the Indiana Department of Commerce for the Sibley Machine & Foundry Corporation project. SECTION II. This Resolution shall be in full force and effect immediately upon passage by the Common Council of the city of South Bend, Indiana, and approval by the Mayor. /s/ Joseph T. Serge Member of the Common Council RESOLUTION NO. 1506 -87 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO SUBMIT AN APPLICATION TO THE INDIANA DEPARTMENT OF COMMERCE FOR THE STATE INVESTMENT INCENTIVE PROGRAM FUND (PRECISION TOOL & DIE AND DESIGN, INC.) WHEREAS, the City of South Bend id dedicated to pursuing economic development through promoting growth of businesses which stimulate the local economy and thereby benefit the people of South Bend as a whole; and WHEREAS, the Precision Tool & Die and Design, Inc. project will benefit the local economy, specifically by increasing foundry employment in South Bend by addition 80 local machining jobs; and WHEREAS, the acquisition of Assets of Advance Engineering by Precision Tool & Die and Design, Inc. would serve to introduce approximately $3 million of sales volume to the South Bend operation, utilize current vacant industrial space in South Bend's Urban Enterprise Zone, and increase the potential for attraction of new customers for products manufactured in South Bend; and