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REGULAR MEETING APRIL 9, 1973
<br />IIREGULAR MEETING - RECONVENED (CONTINUED)
<br />WHEREAS, now the
<br />approximately $250,000
<br />Commission of the City
<br />and further desires to
<br />known as a net net net
<br />bonds and obtain title
<br />International Bakers Services, Inc., of South Bend seeks
<br />.00 from an issue of revenue bonds of the Economic Development
<br />of South Bend to be signed by the Mayor and by its City Clerk
<br />enter into a lease of not more than 20 years' duration to be
<br />lease sufficient to pay the principal and interest of these
<br />at the end of the lease, and
<br />WHEREAS, by virtue of the net net net lease, the International Bakers Services,
<br />Inc., of South Bend, 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,
<br />that the resolution and findings of the Economic Development Commission pertaining to this
<br />project be approved and incorporated in this resolution, and
<br />THEREFORE, be it resolved by the Common Council of the City of South Bend, Indiana,
<br />that the statement of public service on the part of the Economic Development Commission,
<br />of the Area Plan Commission and of the South Bend School Corporation be accepted and
<br />approved, and
<br />THEREFORE, be it resolved that the South Bend City Common Council authorize the
<br />Economic Development Commission of the City of South Bend, to proceed to make preliminary
<br />agreements with the proposed lessee, International Bakers Services, Inc., of South Bend,
<br />in the nature of a conditional commitment to enter into a lease with the International
<br />Bakers Services, Inc., of South Bend, Indiana, and
<br />THEREFORE, be it resolved that the Economic Development Commission of the City of
<br />South Bend shall, as soon as the new lease form is properly prepared, submit the same
<br />to the Clerk of the City of South Bend, to be prepared by a member of the Common Council
<br />as a proposed ordinance for the acceptance of same, and issuance of revenue bonds to
<br />cover the amount of money needed.
<br />WHEREAS:
<br />WHEREAS:
<br />s/ Odell Newburn
<br />Member of the Common Council
<br />A RESOLUTION SETTING FORTH THE NEED FOR ECONOMIC
<br />DEVELOPMENT
<br />Resolution No. 8 -73.
<br />The City of South Bend is still experiencing
<br />a high unemployment situation, and
<br />By virtue of the need for additional
<br />industrial and economic development, and
<br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Commission that because of
<br />insufficient employment opportunities and
<br />insufficient diversification of industry, the
<br />economic welfare of the city would be benefited
<br />by approving the application of International
<br />Bakers Services, Inc., for the proposed pur-
<br />chase and remodeling of a facility at 1902
<br />North Sheridan Avenue in South Bend.
<br />THIS RESOLUTION ADOPTED BY THE ECONOMIC DEVELOPMENT
<br />COMMISSION OF THE CIVIL CITY OF SOUTH BEND, INDIANA,
<br />THIS 30th DAY OF MARCH, 1973.
<br />s/ Karl G. King, Jr.
<br />President - Karl G. King, Jr.
<br />s/ Peter J. Nemeth
<br />Vice President - Peter J. Nemeth
<br />s/ Walter Mucha
<br />Secretary - Walter Mucha
<br />REPORT OF CITY OF SOUTH BEND
<br />ECONOMIC DEVELOPMENT COMMISSION
<br />MAKING CERTAIN ESTIMATES
<br />Pursuant to the Municipal Economic Development Act of 1965, as amended, the
<br />City of South Bend Economic Development Commission is required to make certain
<br />estimates in regard to purchase and remodeling of a facility at 1902 North Sheridan
<br />Avenue by International Bakers Services, Inc. The estimates are as follows:
<br />(1) The number of public services or facilities, including streets,
<br />sidewalks, schools, sewers, street lights, fire and police protection
<br />which would be made additionally necessary or desirable on account
<br />of the proposed remodeling are none and the expenses therefore are none.
<br />(2) The total project cost of the proposed facility will be approxi-
<br />mately $250,000.00.
<br />(3) The number of jobs to be created by the proposed facility would be
<br />approximately twelve with a commensurate annual payroll increase.
<br />
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