11-10-80 Council Meeting Minutes

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REGULAR MEETING NOVEMBER 10 1980 REGULAR MEETING RECONVENED (CONTINUED WHEREAS, the Council held a public hearing for the purpose of hearing persons in favor of the proposed project and those remonstrators who were opposed to the proposed project; and WHEREAS, theCouncil has determined the public utility and benefit of the project. NOW, THEREFORE BE IT RESOLVED by the Common Council of the City of South Bend, Indiana as follows: SECTION I. That the Common Council hereby confirms its Declaratory Resolution de- signating the area described herein as an Urban Development Area for purposes of tax abatement consideration and confirms its determination of the project's public utility and benefit. SECTION II. The resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. /s /Lewis A. MCGann Member of the Common Council A public hearing was held on the resolution at this time. Mr, Ron Jaicomo, attorney re- presenting the petitioner, indicated they have spoken on this before and would be happy to answer any questions. Council Member Voorde read the Area Plan REport, which was favorable. Council Member Kopczynski made a motion to adopt this resolution, seconded by Council Member Dombrowski. The resolution was adopted by a roll call vote of nine ayes. RESOLUTION NO. 833 -80 A RESOLUTION AUTHORIZING THE MEMORANDUM OF INTENT BETWEEN AND CIRA'S TIMBERLINE, INC., SAID CITY OF ITS ECONOMIC DE' TO THE PROVISIONS OF INDIANA CHAPTER 4.5,.AS AMENDED. EXECUTION AND DELIVERY OF A THE CITY OF SOUTH BEND, INDIANA PROVIDING FOR THE ISSUANCE BY VELOPMENT REVENUE BONDS PURSUANT CODE, TITLE 18, ARTICLE 6, The area still has insufficient employment opportunities and insufficient diversifica- tion of industries, which conditions are harmful to the economic stability and general_ welfare of the area and, if not remedied, will be detrimental to the development of such areas. The City of South Bend, Indiana (the "City ") is authorized under the provisions of Indana Code, Title 18, Article 6, Chapter 4,5, as amended (the "Act "), to acquire, construct and finance economic development projects for the users thereof and to provide for the issuance of revenue bonds in conjunction therewith. The City, in order to implement the public purposes enumerated in the Act and in furtherance thereof to induce Cira's Timberline, Inc. (the "Borrower") to construct lease- hold improvements and to acquire and install furnishings, fixtures and equipment to be used in a supermarket (hereinafter collectively called the "Project") within the limits of St. Joseph County, Indiana, has indicated its intent to issue its revenue bonds under and pursuant to the provisions of the Act and to apply the proceeds therefrom to the pay- ment of the costs of the Project. The City has heretofore issued its Economic Development First Mortgage Revenue Bonds, Series 1980 (Timberline Tract Project) in the aggregate principal amount of $500,000.00, to finance the acquisition and construction of certain real estate and improvements, a portion of which will be leased to the Borrower. The Project is designed to perfect and complete said Timberline Trace Project by providing for the construction of said leasehold improvements and the acquisition and installation of said furnishings, fixtures, and equip- ment in that portion of the improvements to be leased to the Borrower. The Borrower, after considering a number of possible locations within and outside the State of I.ndiana, and in reliance upon the intent.of the City to finance the Project through the issuance of revenue bonds under the provisions of the Act, has determined to construct and Project within the limits of. St. Joseph County, Indiana. It is now deemed advisable to authorize the execution and delivery by the City of a Memorandum of Intent expressing formally and in writing the understanding heretofore for- mally agreed -upon by the City and the Borrower. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indian,, as follows: SECTION 1 The Mayor is hereby authorized and directed to execute a Memorandum of Intent by and between the City and the Borrower and the CIty Clerk is hereby authorized and directed to affix the seal of theCity thereto and to attest the same; and said Mayor and City Clerk are hereby authorized and directed to cause said Memorandum of Intent to be delivered to, accepted, and executed by the Borrower, said Memorandum of Intent, which is hereby approved and incorporated by reference and made a part of this authorizing resolu- tion, to be in substantially the form attached hereto. SECTION 2 - All resolutions and orders, or parts thereof, in conflict with the pro- visions of this resolution are, to the extent of such conflict, hereby repealed and this resolution shall be in immediate effect from and after its adoption. This inducement resolution shall be in full force and effect from and after its adop- tion by the Common Council and approval by the Mayor. /s/ Lewis A. McGann A public hearing was held on the resolution at this time. Mr, Kenneth Fedderr, attorney for the Economic Development Commission, indicated he filed a substitute resolution with the City Clerk. Council Member Kopczynski made a motion to accept the substitute resolu- tion, seconded by Council Member Dombrowski. The motion carried. Mr. Fedder indicated thatl': Cira's planned to construct a new supermarket.