09-25-72 Council Meeting Minutes

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REGULAR MEETING SEPTEMBER 25, 1972 RESOLUTIONS (CONTINUED) the Code Enforcement Projects, in the Northeast Neighborhood No. E -3 and in the Model Cities Neighborhood, No. E -5. In May of 1971 we entered into an agreement for the E -3 project and in July we entered into a contract on E -5, funded for a period of one year. Last June amendatory contracts for both projects extended them for six months. There is a shortage of funds for code enforcement projects and HUD has been phasing out the funding of these projects. We feel it is necessary that we ask for additional funding. Both of the resolutions allow the Mayor to amend the contracts by increasing the amounts. In the resolution on E -5, Section A would be increased to $300,050, Section B increased to $145,000, and Section C increased to $8,747. in the resolution on E -3, Section A would be increased to $511,608, Section B increased to $183,342, Section C increased to $10,022. Councilman Miller made a motion that the Resolution contained in Item 9B, Project Ind. E -5, be adopted. The motion was seconded by Councilman Szymkowiak. The resolution was adopted by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth). Councilman Parent made a motion that the Resolution contained in Item 9C, Project Ind. E -3, be adopted, seconded by Councilman Taylor. The resolution was adopted by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth). RESOLUTION NO. 331 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER OF FIRST BANK & TRUST COMPANY OF SOUTH BEND, INDIANA, TRUSTEE FOR LAND TRUST #29 -5121, THE OWNER OF SAID LAND TRUST BEING A.G.A. REALTY COMPANY OF SOUTH BEND, AN INDIANA PARTNERSHIP. WHEREAS, the First Bank & Trust Company of South Bend as Trustee for Land Trust #29 -5121 has submitted its intention to the Economic Development Commission of South Bend to build a new commercial building on the approximate 0.170 acre tract located on the north sideof the 100 block of West Washington Street, South Bend, Indiana and said property is within the R -66 Urban Renewal Plan. WHEREAS, the Economic Development Commission, pursuant to the statute has found by written resolution that there exists insufficient employment opportunities and that the economic welfare of the City of South Bend, Indiana would be benefited and the purpose of the statute would be accomplished by the acquisition and leasing of the above described property to the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5121, and WHEREAS, the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5121 has submitted a statement of public service to the above Economic Development Commission of the City of South Bend and said Commission has forwarded this statement of public service with their approval and comments to the South Bend School Corporation, a copy of which is attached, and WHEREAS, the affirmative response and analysis of the South Bend School Corporation has been received as presented to the Clerk of the City of South Bend and attached, and WHEREAS, the statement of public service by First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5121 and the Economic Development Commission of the City of South Bend have been submitted for approval and comments to the Area Plan Commission of St. Joseph County and the affirmative action and comments of the Area Plan Commission have been received by the Clerk of the City of South Bend as attached, and WHEREAS, the requirements of the application as described in the "Municipal Economic Development Act of 1965 of the State of Indiana" as amended have therefore been met to this point, including a projection of the number of jobs created, the estimated payroll created and the approximation of the cost of the land and construction, and the impact on utilities and fire and police facilities of the City of South Bend with the approvals of the school corporation and the Area Plan Commission having jurisdiction of the area in which the proposed facility is to be built, and WHEREAS, the plan meets the desire of the Redevelopment Commission of the City of South Bend, and WHEREAS, now the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5121 seeks an amount of $1.6 million and not to exceed $2.2 million from an issue of industrial revenue bonds of the Economic Development Commission of the City of South Bend to be signed by its Mayor and by its City Clerk and further desires to enter into a lease not to exceed 22 years duration to be known as a net net net lease sufficient to pay the principal and interest of these bonds and obtain title at the end of the lease, and WHEREAS, the exact amount of industrial revenue bonds is to be determined by the cost of the project. The cost of the project is to include the existing mortgage on the JMS Building, additional remodeling to the existing JMS Building, purchase of real estate adjacent to the JMS Building and erection of a new building on said adjacent land, and WHEREAS, by virtue of the net net net lease, the First Bank and Trust Company of South Bend as Trustee for Land Trust #29 -5121 indicates its intention to pay all expenses of the operation, maintenance, insurance, property taxes, whatever of the facility, THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana that the resolution and findings of the Economic Development Commission pertaining to this project be approved and incorporated in this resolution, and THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana that the statement of public service on the part of the Economic Development Commission, of the Area Plan Commission and of the South Bend School Corporation be accepted and approved, and.