08-28-72 Council Meeting Minutes

Home Browse Search

REGULAR MEETING AUGUST 28, 1972 RESOLUTION NO. 325 -72 (CONTINUED) project enjoy the exemption provided therein. NOW, THEREFORE, be it hereby resolved by the Common Council of the City of South Bend, Indiana, that the City hereby elects, pursuant to Section 103 (c) (6) (D) of the Internal Revenue Code, as amended, and Internal Revenue Service Regulation Section 1.103 -10 to have the provisions thereof as to the $5,000,000 or less exemption apply to the issue of Economic Development Revenue Bonds relating to Royal Inn of South Bend a Limited Partnership project and authorizes the Mayor of such City, or in his absence the Controller, to execute and file the statement of such election with the District Director or Director of the Internal Revenue Service Center where Royal Inn of South Bend, a Limited Partnership, is required to file its income tax returns prior to the issuance of such Economic Development Revenue Bonds and provide a copy of such statement for attachment to the income tax return of Royal Inn of South Bend, a Limited Partnership. /s/ Peter J. Nemeth President of the Common Council A public hearing was held on the resolution at this time. Mr. Deahl explained that this resolution is similar to the previous one and is for the same purpose for the Department of Internal Revenue. It provides that the city elect to take the benefit of an exemption on these bonds. Councilman Serge made a motion that the resolution be adopted, seconded by Councilman Szymkowiak. The resolution was adopted by a roll.call vote of eight ayes (Councilmen Serge, Szymkowiak, Miller, Taylor, Kopczynski, Horvath, Newburn and Nemeth) one absent (Councilman Parent). UNFINISHED BUSINESS REPORT FROM AREA PLAN COMMISSION M " The Honorable Common Council August 16, 1972 City of South Bend County -City Building South Bend, Indiana 46601 In Re: A proposed ordinance and site development plan of Associates Bancorp, Inc. to zone from "A" Residential, "A" Height and Area to "C" Commercial, "C" Height and Area, property on Ireland Road. Gentlemen: The attached rezoning petition of Associates Bancorp, Inc. was legally advertised August 5, 1972 and August 12, 1972. The Area Plan Commission gave it public hearing August 15, 1972 at which time the following action was taken: "Upon motion made by Joseph Bajdek, seconded by Elmer Mitchell and unanimously carried, the petition of Associates Bancorp, Inc. to zone from "A" Residential to "C" Commercial is returned to the Common Council with a favorable recommendation by the Area Plan Commission with the suggestion that this property be tied in with future "C -2" zoning in the immediate area." The deliberations of the Area Plan Commission and points considered in arriving at the above decision are shown in excerpts of the minutes and will be forwarded to you at a later date to be made a part of this reporti Very truly yours, Howard Bellinger Executive Director HB:ld Attach. CC: Jack C. Dunfee, Jr., Attorney at Law Joseph T. Helling, Attorney at Law m Councilman Taylor made a motion that the ordinance referred to in this report be set for public bearing and third reading on September 11, 1972. Seconded by Councilman Horvath and carried. REPORT FROM AREA PLAN COMMISSION I " The Honorable Common Council August 16, 1972 City of South Bend County -City Building South Bend, Indiana 46601 In Re: A proposed ordinance and site development plan of Associates Bancorp, Inc. to zone from A Residential, A Height and Area to "C" Commercial, property on Lincolnway West. Gentlemen: The attached rezoning petition of Associates Bancorp, Inc. was legally advertised August 5, 1972 and August 12, 1972. The Area Plan Commission gave it public hearing August 15, 1972 at which time the following action was taken;