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OCTOBER 10, 1972
<br />REGULAR MEETING,
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<br />RESOLUTION NO. 337 -72 (CONTINUED)
<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, Hoffman Bros. Sales & Service, Inc., and /or Auto Electric Warehousing, Inc., seeks
<br />approximately $110,000.00 from an issue of revenue bonds of the Economic Development Commission
<br />of the City of South Bend to be signed by its Mayor and by its City Clerk and further desires
<br />to enter into a lease of not to exceed 20 years duration to be known as a net net net lease suf-
<br />ficient to pay the principal and interest of these bonds and obtain title at the end of the
<br />lease, and
<br />WHEREAS, by virtue of the net net net lease, the Hoffman Bros. Sales & Service, Inc. and /or
<br />Auto Electric Warehousing, Inc., 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, 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 Devel-
<br />opment Commission of the City of South Bend to proceed to make preliminary agreements with the
<br />proposed lessee, Hofman Bros. Sales & Service, Inc., and /or Auto Electric Warehousing, Inc., in
<br />the nature of a conditional commitment to enter into a lease with Hoffman Bros. Sales & Service,
<br />Inc., and /or Auto Electric Warehousing, Inc., 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 />I
<br />/s/ Roger O. Parent
<br />Member of South Bend City Council
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<br />A RESOLUTION SETTING FORTH THE NEED FOR ECONOMIC DEVELOPMENT
<br />RESOLUTION NO. 19 -72
<br />WHEREAS: The City of South Bend is still experiencing a high
<br />unemployment 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 diversification of industry, the economic welfare of
<br />the city would be benefited by approving the application of Auto
<br />Electric Warehousing, Inc. of South Bend for the construction of a
<br />facility at 1110 East Madison Street, South Bend, Indiana.
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<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 />/s/ President Karl G. King, Jr.
<br />/s/ Vice President Fred Craven
<br />/s/ Secretary Walter Mucha it
<br />REPORT OF CITY OF SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION MAKING CERTAIN
<br />ESTIMATES
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<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 regard to
<br />the proposed construction on land located at 1110 East Madison Street, South Bend, Indiana.
<br />The estimates are as 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 acquisition
<br />are none and the expenses therefore are none.
<br />(2) The total project cost of the proposed facilities, including all necessary
<br />financial costs, will be $110,000.00.
<br />(3) The number of jobs to be created by the proposed acquisition will be approximately
<br />7 to 10, with an estimated payroll increase from $105,000.00 to $150,000.00.
<br />This land is properly zoned and the construction of the additional facility to the
<br />existing plant will be in conformity with the area and will provide an increase in the tax
<br />base. A firm commitment letter to purchase the bonds has been received by the Commission
<br />from a local institution.
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