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REGULAR MEETING OCTOBER 10, 1972
<br />RESOLUTION NO. 334 -72 (CONTINUED)
<br />WHEREAS, K & F Manufacturing Company, an Indiana partnership, seeks approximately $70,000.00
<br />from an issue of revenue bonds of the Economic Development Commission of the City of South Bend
<br />to be signed by its Mayor and by its City Clerk and further desires to enter into a lease of not
<br />to exceed 30 years duration to be known as a net net net lease sufficient to pay the principal
<br />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 K & F Manufacturing Company, an Indiana partner-
<br />ship, indicates its intention to pay all expenses of the operations maintenance, insurance,
<br />property taxes, whatever of the facility.
<br />THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana, that the
<br />resolution and findings of the Economic Development Commission pertaining to this project be
<br />approved and incorporated in this resolution, and
<br />THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana, that the
<br />statement of public service on the part of the Economic Development Commission, of the Area Plan
<br />Commission and of the South Bend School Corporation be accepted and approved, and
<br />THEREFORE, 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, K & F Manufacturing Company, an Indiana partnership, in the nature of a con-
<br />ditional commitment to enter into a lease with K & F Manufacturing Company, an Indiana partner-
<br />ship, 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/ Roger O. Parent
<br />Member, South Bend Common Council
<br />RERORT OF CITY OF SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION
<br />MAKING CERTAIN ESTIMATES
<br />Pursuant to the Municipal Economic Development Act of 1965 as amended, the City of
<br />South Bend Economic Development Commission is required to make certain estimates in
<br />regard to the proposed purchase of land and construction_ of a new plant to be located
<br />in the Granger Industrial Park, St. Joseph County, Indiana. The estimates are as
<br />follows:
<br />(1) The number of public services or facilities, including streets, sidewalks,
<br />schools, sewers, street lights, fire and police protection which would be
<br />made additionally necessary or desirable on account of the proposed
<br />acquisition are none and the expenses therefore are none.
<br />(2) The total cost of the proposed facilities, including purchase of land will
<br />be in the amount of $70,000.00.
<br />(3) The total number of jobs to be created by the proposed facilities will be
<br />approximately fourteen, and the estimated annual payroll will be raised
<br />from $12,500.00 to $250,000.00 per year.
<br />This property is properly zoned and the required utilities are already available.
<br />A firm commitment letter to purchase the bonds has been received by the Commission
<br />from a local institution. Since this property is located in the County, we are
<br />working in conjunction with the St. Joseph County Council.
<br />A RESOLUTION SETTING FORTH THE NEED FOR ECONOMIC DEVELOPMENT
<br />RESOLUTION NO. 15 -72
<br />WHEREAS: St. Joseph County is still experiencing a high unemployment
<br />situation and
<br />WHEREAS: By virtue of the need for additional industrial and economic
<br />development, and
<br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Commission that because of
<br />insufficient employment opportunities and insufficient diversification of industry,
<br />the economic welfare of the county would be benefited by approving the application of
<br />K & F Manufacturing Co., Inc. for the proposed purchase of land and construction of a
<br />new plant in the Granger Industrial Park, St. Joseph County, Indiana.
<br />THIS RESOLUTION ADOPTED BY THE ECONOMIC DEVELOPMENT COMMISSION OF THE CIVIL CITY OF
<br />SOUTH BEND, INDIANA, THIS 22ND DAY OF SEPTEMBER, 1972.
<br />ISI President Karl G. King, Jr.
<br />/SI Vice President Fred Craven
<br />/S/ Secretary Walter Mucha
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