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REGULAR MEETING OCTOBER 10, 1972
<br />RESOLUTION NO. 332 -72 (CONTINUED)
<br />A public hearing was held on the resolution at this time. Mr. James Seitz, Superintendent of
<br />Parks, said that a letter of explanation had been sent to the Councilmen explaining the need
<br />for the transfer. The money is needed to pay gross income tax on money received for the sale
<br />of park land. The Park Department has received a $25,000 partial payment on land sold on
<br />Ireland Road and $5,800 for land in the Northwest corner of Potowatomi Park which was sold to
<br />I & M for a sub - station. In addition, there was an error made in computing the adjusted gross
<br />income tax and they now need $2,000. The transfer is being made from Rents and there is a
<br />balance in this account because they have been able to use equipment from other departments of
<br />the city rather than having to rent it. Councilman Miller moved for adoption of the resolution,
<br />seconded by Councilman Szymkowiak. The resolution was adopted by a roll call vote of nine ayes
<br />(Councilmen Serge, Szymkowiak, Miller, Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth).
<br />Councilman Miller made a motion that the rules be suspended and the next six resolutions be rear
<br />by title only since they are all Economic Development Resolutions and all similar and that the
<br />public hearings be held all at one time. Councilman Szymkowiak seconded the motion and it
<br />carried unanimously.
<br />RESOLUTION NO. 333 -72 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY
<br />OF SOUTH BEND, ST, JOSEPH COUNTY, INDIANA, IN
<br />THE MATTER OF J. E. WALZ, INC. OF SOUTH BEND, INDIANA
<br />WHEREAS, J. E. Walz, Inc. of South Bend has submitted its intention to the Economic Development
<br />Commission of South Bend, to construct a new commercial building on the site of 3423 South
<br />Michigan Street, in South Bend, Indiana and
<br />WHEREAS, the Economic Development Commission, pursuant to the statute, has found by written
<br />resolution that there exists insufficient employment opportunities and that the economic wel-
<br />fare of the City of South Bend, Indiana, would be benefited and the purpose of the statute
<br />would be accomplished by the acquisition and leasing of the above described property to J. E.
<br />Walz, Inc. of South Bend, and
<br />WHEREAS, J. E. Walz, Inc. of South Bend has submitted a statement of public service to the
<br />above Ecoonomic Development Commission of the City of South Bend and said Commission has for-
<br />warded this statement of public service with their approval and comments to the South Bend
<br />School Corporation, a copy of which is attached, and
<br />WHEREAS, the affirmative response and analysis of the South Bend School Corporation has been
<br />received as presented to the Clerk of the City of South Bend, and attached, and
<br />WHEREAS, the statement of public service by J. E. Walz, Inc. of South Bend and the Economic
<br />Development Commission of the City of South Bend have been submitted for approval and comments
<br />to the Area Plan Commission of St. Joseph County and the affirmative action and comments of the
<br />Area Plan Commission have been received by the Clerk of the City of South Bend, as attached,
<br />and
<br />WHEREAS, the requirements of the application as described in the "Municipal Economic Develop-
<br />ment Act of 1965 of the State of Indiana" as amended have therefore been met to this point,
<br />including a projection of the number of jobs created, the estimated payroll created and the
<br />approximation of the cost of the land and construction, and the impact on utilities and fire
<br />and police facilities of the City of South Bend with the approvals of the school corporation
<br />and the Area Plan Commission having jurisdiction of the area in which the proposed facility is
<br />to be built, and
<br />WHEREAS, now the J. E. Walz, Inc. of South Bend, seeks approximately $300,000.00 from an issue
<br />of revenue bonds of the Economic Development Commission of the City of South Bend to be signed
<br />by the Mayor and by'its City Clerk and further desires to enter into a lease of not more than
<br />20 years duration to be known as a net net net lease sufficient to pay the principal and
<br />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 J. E. Walz, Inc. of South Bend indicates its
<br />intention to pay all expenses of the operation, maintenance, insurance, property taxes,
<br />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
<br />Plan 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
<br />Development Commission of the City of South Bend to proceed to make preliminary agreements
<br />with the proposed lessee, the J. E. Walz, Inc. of South Bend, in the nature of a conditional
<br />commitment to enter into a lease with the J. E. Walz, Inc. of South Bend, 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
<br />for the acceptance of same and issuance of revenue bonds to cover the amount of money needed.
<br />/s/ Peter J. Nemeth
<br />Member, South Bend Common Council
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