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REGULAR MEETING MAY 14 1979
<br />REGULAR MEETING RECONVENED (CONTINUED
<br />A public hearing was held on the resolution at this time. Mr. James Harcus, Director of the
<br />Bureau of Housing, indicated they were requesting approval for the general rehabilitation of
<br />the homes listed in the resolution. Council Member Serge made a motion to adopt this resolu-
<br />tion, secondeddby Council Member Dombrowski. The resolution was adopted by a roll call vote
<br />of nine ayes.
<br />RESOLUTION NO. 699 -79 INDUCEMENT RESOLUTION OF THE SOUTH BEND COMMON COUNCIL
<br />RELATING TO DERBY, INC. PROJECT.
<br />WHEREAS, The South Bend Economic Development Commission heretofore has investigated, studied
<br />surveyed and reported to the Mayor and the Common Council of the City of South Bend, Indiana
<br />that a need exists in the community for additional job opportunities and commercial diversifica-
<br />tion within the City of South Bend, Indiana, and the surrounding area; and in order to improve
<br />and promote job opportunities and commercial diversification within the City of South Bend,
<br />Indiana and the surrounding area, a financing agreement should be effected with DERBY, INC., an
<br />Indiana Corporation, relating to a project to be known as the DERBY, INC. PROJECT: and
<br />WHEREAS, DERBY, INC. is an existing Indiana. Corporation who is presently leasing a facility
<br />in South Bend for the manufacturing of vinyl cases and desires to expand its operation and to
<br />employ a substantial number of additional employees, at 24350 State Road 23, South Bend, Indiana;
<br />and
<br />WHEREAS, to induce DERBY, INC. to expand its present operations and to purchase real estate
<br />and construct a new economic development facility, the South Bend Common Council desires to
<br />adopt this Resolution; and
<br />WHEREAS, it is apparent that the DERBY, INC. PROJECT will increase job opportunities and
<br />commercial diversification in South Bend, Indiana and the surrounding area, resulting in a
<br />benefit to the welfare of the public in the City of South Bend, Indiana and the surrounding area.
<br />NOW, THEREFORE, BE IT RESOLVED, that the South Bend Common Council approve the application
<br />of Derby, Inc. relating to the purchase of real estate and the construction of an economic
<br />development facility under an arrangement whereby the costs of such purchase of real estate and
<br />construction of an econimic. development facility will be paid from the)procees of Industrial
<br />Development Bonds to be issued by the City of South Bend, Indiana, for an amount not exceeding
<br />One Hundred Eighty Thousand ($180,000.00) Dollars, repayable with Merest thereon over a period
<br />of time and with.a maturity date which does not extend.beyond twenty years and six months
<br />(20 years and 6 months) after the issue date; and
<br />BE IT FURTHER RESOLVED, that in order to encourage, induce and solicit such application by
<br />DERBY, INC. for such Industrial Development Bond issue, the South Bend Common Council shall pro-
<br />ceed to cooperate with and take such action as may be necessary in the drafting of documents
<br />or the performance of such other acts as will facilitate the issuance of such Industrial Develop-
<br />ment Bonds by the City of South Bend, Indiana, to provide funds to be used toward the payment of
<br />the costs for the purchase of real estate and the construction of an economic development facilit:
<br />and
<br />BE IT FURTHER RESOLVED, that any costs or expenses incurred in connection with said DERBY,
<br />INC. PROJECT shall be included in the project costs and reimbursed from the proceeds of the
<br />Industrial Development Bonds to be issued with respect thereto; and
<br />BE IT FURTHER RESOLVED, that the liability and obligation of the South Bend Economic Develop-
<br />ment Commission and the City of South Bend, Indiana, shall be limited solely to the good faith
<br />efforts to consummate such proceedings and issue such Bonds, and neither the South Bend Economic
<br />Development Commission nor the City of`South Bend, Indiana, or its officers or agents, shall incur
<br />any liability if for any reason the proposed issuance of such Bonds is not consummated.
<br />/s /Terry S. Miller
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, attorney for the
<br />Economic Development Commission, indicated this was an expansion of this operation. He indicated
<br />if the Economic Development Commission approves this bond issue, this will come back to the
<br />Council in the form of an ordinance. Council Member Serge made a motion to adopt this resolution;
<br />seconded by Council Member Miller. The resolution was adopted by a roll call vote of nine ayes.
<br />SALE OF CITY -OWNED PROPERTY
<br />Mr. Patrick McMahon, Director of Public Works, requested that the Council approve the sale of
<br />City -owned property that was purchased, but not needed for the Michigan -Main Connector. The
<br />sale involves residual portions of Lots 157, 158, 166, 167 and 168 of the Original Plat of
<br />South Bend. Council Member Dombrowski made a motion that the Council has no objection to the
<br />sale of the property, seconded by Council Member Taylor. The motion carried.
<br />Council Member Adams made a motion to set the next Council meeting for May 29, 1979, at 7:00 p.m.
<br />seconded by Council Member Kopczynski. The motion carried.
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