10-10-72 Council Meeting Minutes

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REGULAR MEETING OCTOBER 10, 1972 RESOLUTION NO. 336 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, IN THE MATTER OF RAEL BROWN, ET AL, AN INDIANA PARTNERSHIP, OF SOUTH BEND, INDIANA. WHEREAS, Rael Brown, et al, an Indiana partnershipt has submitted its intention to the Economic Development Commission of South Bend to construct a one - story building located at 208 -210 South Michigan Street, within the City of South Bend, Indiana. 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 Rael Brown, et al,l an Indiana partnership, and WHEREAS, Rael Brown, et al, an Indiana partnership, 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 Rael Brown, et al, an Indiana partnership, 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 com- ments 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 an( WHEREAS, Rael Brown, et al, an Indiana partnership, seeks approximately $120,000.00 from an issue of 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 of not to exceed 30 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, by virtue of the net net net lease, the Rael Brown, et al, an Indiana partnership, 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 THEREFORE, be it resolved that the South Bend City Common Council authorize the Economic Development Commission of the City of South Bend to proceed to make preliminary agreements with the proposed lessee, Rael Brown, et al, an Indiana partnership, in the nature of a conditional commitment to enter into a lease with Rael Brown, et al, an Indiana partnership, and THEREFORE, be it resolved that the Economic Development Commission of the City of South Bend shall, as soon as the new lease form is properly prepared, submit the same to the Clerk of the City of South Bend to be prepared by a member of the Common Council as a proposed ordinance for the acceptance of same and issuance of revenue bonds to cover the amount of money needed. LL /s/ Roger O. Parent Member of the South Bend Common Council m REPORT OF CITY OF SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION MAKING CERTAIN ESTIMATES Pursuant to the Municipal Economic Development Act of 1965 as amended, the City of South Bend Economic Development Commission is required to make certain estimates in regard to the proposed construction of a one story building at 208 -210 South Michigan Street, South Bend, Indiana. The owners of said property are Rael Brown, Marilyn Brown, Beatrice Lucille Nevel and Shirley Babette Waks. The estimates are as follows: (1) The number of public services or facilities, including streets, sidewalks, schools, sewers, street lights, fire and police protection which would be made additionally necessary or desirable on account of the proposed facilities are none and the expenses therefore are none. (2) The total project cost of the proposed facilities, including all necessary financial costs, will be in the amount of $120,000.00 (3) The number of jobs to be created by the proposed facilities is estimated in a range from five to twenty, and the estimated annual payroll will be $125,000.00. Preliminary plans have been prepared by a local architectural firm and are presently with the Redevelopment Commission for their review. A firm bank commitment has been