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REGULAR MEETING MAY 29, 1979
<br />REGULAR MEETING RECONVENED (CONTINUED)
<br />ORDINANCE NO. 6591 -79
<br />AN ORDINANCE APPROPRIATING $100,000.00 FROM THE COMMUNITY
<br />DEVELOPMENT BLOCK GRANT FUND FOR A DEMONSTRATION BLOCK PRO-
<br />JECT, TO BE ADMINISTERED BY THE COMMUNITY DEVELOPMENT PRO-
<br />GRAM AND THE DEPARTMENT OF PUBLIC WORKS.
<br />This bill had second reading. Council Member Serge made a motion to pass this bill, seconded by
<br />Council Member Dombrowski. The bill passed by a roll call vote of nine ayes.
<br />ORDINANCE NO. 6592 -79
<br />AN ORDINANCE APPROPRIATING $300,000.00 FROM THE FEDERAL
<br />ASSISTANCE GRANT, COMMONLY REFERRED TO AS GENERAL REVENUE
<br />SHARING, FOR DEVELOPMENT OF PERMANENT, INTERPRETIVE EXHIBITS
<br />FOR THE DISCOVERY HALL MUSEUM, TO BE ADMINISTERED BY THE
<br />CITY OF SOUTH BEND THROUGH ITS DEPARTMENT OF ADMINISTRATION
<br />AND FINANCE.
<br />This bill had second reading. Council Member Taylor made a motion to pass this bill, seconded by
<br />Council Member Serge. The bill passed by a roll call vote of five ayes and four nays (Council
<br />Members Kopczynski, Adams, Horvath and Parent.)
<br />RESOLUTIONS
<br />RESOLUTION NO. 700 -79 AN INDUCEMENT RESOLUTION RELATING TO THE W &B REALTY PROJECT.
<br />WHEREAS, pursuant to I.C. 18- 6 -4.5, the Common Council of the City of South Bend, Indiana
<br />created the South Bend Economic Development Commission, which Commission, heretofore has investi-
<br />gated, studied, surveyed and reported to the Mayor and the Common Council of the City of South
<br />Bend, Indiana, that a need exists in the community for additional job opportunities and commerica_
<br />and industrial diversification within the.City of South Bend, Indiana; and in order to improve
<br />and promote job opportunities, commercial diversification, and the general welfare of the area
<br />within the City of South Bend, Indiana, a financing agreement should be entered into with W &B
<br />Realty, or its assigns, relating to a project to be known as the "W &B Realty Project "; and
<br />WHEREAS, W &B Realty is an existing partnership established in the trade or business of
<br />renting commercial and office property and desires to construct and erect a l Z or 2 story
<br />building approximately 60 feet wide and 140 feet long comprising approximately 16,800 square
<br />feet for lease to Koszegi Leather and Vinyl Products, Inc., which new structure will be used
<br />by said tenant for production and storage facilities and will adjoin an existing structure
<br />owned by W &B Realty and presently under lease to Koszegi Leather and Vinyl Products, Inc., and
<br />which new facility will result in a substantial increase in the number of employees of such
<br />tenant; and
<br />WHEREAS, to induce W &B Realty, or its assigns, to become the principal user of such
<br />Economic Development Facilities, the Common Council of the City of South Bend desires to adopt
<br />this resolution; and
<br />WHEREAS, it is apparent that the development of the W &B Realty Project will increase job
<br />opportunities and commercial diversification in South Bend, Indiana, resulting in benefit to
<br />the welfare of the public in the City of South Bend, Indiana, and in St. Joseph County, Indiana.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common- Council of the City of South Bend, Indiana, as
<br />follows:
<br />SECTION 1. That approval is hereby given to the application of W &B Realty, or its assigns,
<br />relating to the construction and erection of such Economic Development Facilities under an
<br />arrangement whereby the cost of such construction and erection would be paid from the proceeds
<br />of Industrial Revenue Bonds to be issued by the City of South Bend, Indiana, for an amount not
<br />exceeding One Hundred Seventy -Five Thousand ($175,000.00) Dollars, repayable with interest
<br />thereon over a period of time and with a maturity date which does not exceed beyond thirty (30)
<br />years after the issue date.
<br />SECTION 2. In order to encourage, induce and solicit such application by W &B Realty for
<br />such Industrial Revenue Bond issue relating to the construction and erection of such Economic
<br />Development Facilities, the South Bend Economic Development Commission on behalf of the City
<br />of South Bend, shall proceed to cooperate with and take such action as may be necessary in the
<br />approval and drafting of documents or the performing of such other acts as will facilitate the
<br />issuance of such Industrial Revenue Bonds by the City of South Bend to provide funds to be used
<br />in the construction and erection of such Economic Development Facilities.
<br />SECTION 3. Any costs or expenses incurred in connection with said W &B Realty Project shall
<br />be included in the project costs and reimbursed from the proceeds of the Industrial Revenue
<br />Bonds to be issued with respect thereto.
<br />SECTION 4. This resolution shall be in full force and effect from and after its passage
<br />by the Common Council of the City of South Bend and approval by the Mayor.
<br />/s /Terry S. Miller
<br />Member of the Common Council
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