12-18-72 Council Meeting Minutes

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RFGIMAR M'6'PrPTNr DECEMBER 18, 1972 RESOLUTION NO. 343 -72 (CONTINUED) 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 Develop- ment Commission of the City of South Bend, to proceed to make preliminary agreements with the proposed lessee, the Wells Electronics, Inc. of South Bend, in the nature of a conditional com- mitment to enter into a lease with the Wells Electronics, Inc., of South Bend, 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. /s/ Peter J. Nemeth Member of the Common Council it A RESOLUTION SETTING FORTH THE NEED FOR ECONOMIC DEVELOPMENT " RESOLUTION NO. 24 -72 WHEREAS: The City of South Bend is still experiencing a high unemployment situation, and WHEREAS: By virtue of the need for additional industrial and economic development, and NOW, THEREFORE, BE IT RESOLVED BY the Economic Development Commission that because of insufficient employment opportunities and insufficient diversification of industry, the economic welfare of the city would be benefited by approving the application of Wells Electronics, Inc. for the construction of a building at 1801 South Main Street, South Bend, Indiana. THIS RESOLUTION ADOPTED BY THE ECONOMIC DEVELOPMENT COMMISSION OF THE CIVIL CITY OF SOUTH BEND THIS 1ST DAY OF DECEMBER, 1972. /s/ Karl G. King, Jr. President /s/ Fred Craven, Vice President /s/ Walter Mucha, Secretary I a] of REPORT OF CITY OF SOUTH BEND ECONOMIC DEVELOPMENT COMMISSION MAKING to 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 building by Wells Electronics, Inc. of South Bend. The estimates are as follows: (1) There will be a slight burden on utilities, police and fire protection since a plant which previously did not exist is being considered. In our opinion, the increased tax base of the city, as a result of the new plant, will more than offset the aforementioned costs. (2) The total project cost of the proposed facilities will be approximately $180,000.00. (3) The number of jobs to be created by the proposed facility would be approximately 37 resulting in an increased payroll of $305,000 to $515,000 annually. This is an established business in our community in-- `:the electronics field. This proposed facility will increase the tax base and require utilization of our local construction industry to build the facility. 11 11