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REGULAR MEETING JUNE 26 1972
<br />RESOLUTIONS (CONTINUED)
<br />RESOLUTION NO. 310 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
<br />SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER
<br />OF FIRST BANK AND TRUST COMPANY, OF SOUTH BEND, INDIANA
<br />TRUSTEE FOR LAND TRUST #29 -5094, THE OWNER OF SAID LAND
<br />TRUST BEING CITY DEVELOPMENT COMPANY, AN INDIANA PARTNERSHIP.
<br />WHEREAS, the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5094 has
<br />submitted its intention to the Economic Development Commission of South Bend to build a new
<br />commercial building on the approximate 0.129 acre tract located at the Southwest corner of
<br />Michigan and Wayne Streets, South Bend, Indiana and said property is within the R -66 Urban
<br />Renewal Plan.
<br />WHEREAS, the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5094 has
<br />submitted a statement of public service to the above Economic Development Commission of the City
<br />of South Bend and said Commission has forwarded this statement of public service with their
<br />approval and comments to the South Bend School Corporation, a copy of which is attached, and
<br />WHEREAS, the affirmative response and analysis of the South Bend School Corporation has been re-
<br />ceived as presented to the Clerk of the City of South Bend and attached, and
<br />WHEREAS, the statement of public service by First Bank and Trust Company of South Bend as Trustee
<br />for Land Trust #29 -5094 and the Economic Development Commission of the City of South Bend have
<br />been submitted for approval and comments to the Area Plan Commission of St. Joseph County and the
<br />affirmative action and comments of the Area Plan Commission have been received by the Clerk of the
<br />City of South Bend as attached, and
<br />WHEREAS, the requirements of the application as described in the "Municipal Economic Development
<br />Act of 1965 of the State of Indiana' as amended have therefore been met to this point, including
<br />a projection of the number of jobs created, the estimated payroll created and the approximation
<br />of the cost of the land and construction, and the impact on utilities and fire and police
<br />facilities of the City of South Bend with the approvals of the school corporation and the Area
<br />Plan Commission having jurisdiction of the area in which the proposed facility is to be built..and
<br />WHEREAS, the plan meets the desire of the Redevelopment Commission of the City of South Bend, and
<br />WHEREAS, now the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5094
<br />seeks approximately $235,000.00 from an issue of revenue bonds of the Economic Development Com-
<br />mission of the City of South Bend to be signed by its Mayor and by its City Clerk and further
<br />desires to enter into a lease of 20 years duration to be known as a net net net least sufficient
<br />to pay the principal and interest of these bonds and obtain title at the end of the lease, and
<br />WHEREAS, by virtue of the net net net lease, the First Bank and Trust Company of South Bend as
<br />Trustee for Land Trust #29 -5094 indicates its intention to pay all expenses of the operation,
<br />maintenance, insurance, property taxes, whatever of the facility,
<br />THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend that the statement of
<br />public service on the part of the Economic Development Commission of the Area Plan Commission and
<br />the South Bend City School Corporation be accepted and approved, and
<br />'WHEREFORE, BE IT RESOLVED that the South Bend City Common Council authorize the Economic Develop-
<br />ment Commission of the City of South Bend to proceed to make preliminary agreements with the
<br />proposed lessee, the First Bank and Trust Company of South Bend as Trustee for Land Trust
<br />#29 -5094, in the nature of a conditional commitment to enter into a lease with the First Bank and
<br />Trust.Company of South Bend as Trustee for Land Trust #29 -5094, and
<br />THEREFORE, BE IT RESOLVED that the Economic Development Commission of the City of South Bend
<br />shall, as soon as the new lease form is properly prepared, submit the same to the Clerk of the
<br />City of South Bend to be prepared by a member of the Common Council as a proposed ordinance for
<br />the acceptance of same and issuance of revenue bonds to cover the amount of money needed.
<br />/s/ Peter J. Nemeth
<br />President, South Bend Common Council
<br />A public hearing was held on this resolution at this time. Attorney Allan Schrager explained that
<br />this involves the property at the Southwest corner of Michigan and Wayne Streets and authorizes
<br />revenue bonds in the amount of $235.000 for a new building and improvements. Two tenants have
<br />been secured, Baron Shoes and the Peanut Shop. Councilman Szymkowiak moved for adoption of the
<br />resolution, seconded by Councilman Taylor. The resolution was adopted by a roll call vote of
<br />nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn
<br />and Nemeth).
<br />RESOLUTION NO. 311 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA IN THE
<br />MATTER OF C. E. LEE COMPANY
<br />WHEREAS, C. E. Lee Company has submitted its intention to the Economic Development Commission of
<br />South Bend to rehabilitate the property at 215 South Main Street, South Bend, Indiana. This
<br />property abuts the Indiana R -66 Urban Renewal Plan and Project in the Downtown South Bend,
<br />Indiana area.
<br />WHEREAS, the C. E. Lee Company has submitted a statement of public service to the above Economic
<br />Development Commission of the City of South Bend and said Commission has forwarded this statement
<br />of public service with their approval and comments to the South Bend School Corporation, a copy
<br />of which is attached, and
<br />WHEREAS, the affirmative response and analysis of the South Bend School Corporation has been
<br />received as presented to the Clerk of the City of South Bend and attached, and
<br />
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