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REGULAR MEETING - RECONVENED (CONTINUED)
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />Economic Development Commission, indicated that the commission had approved the application and
<br />financing on July 27, 1973. He introduced Mr. Kevin Butler, St. Joseph Bank Building, the attorne
<br />representing Ironwood Partnership. He explained that the location of the project was 1701 North
<br />Ironwood Drive. He indicated that the project would be a professional office building consisting
<br />of 10,000 square feet. The amount of the bond issue was $300,000. He indicated that the Wilkinso
<br />Hunter Agency would increase its employees from five to twelve with an increase of approximately
<br />$60,000 in payroll. Associated Realty would increase its employees from twelve to twenty with an
<br />increase of approximately $80,000 in payroll. He stated that Associated Realty is current located
<br />on Madison Street and that, the reason for its relocation, was the possible take -over of the city
<br />for the Madison Street Bridge.
<br />Councilman Taylor made a motion that the resolution
<br />resolution passed by a roll call vote of nine ayes
<br />Taylor, Kopczynski, Horvath, Newburn and Nemeth).
<br />be adopted, seconded by Councilman Parent. The
<br />(Councilmen Serge, Szymkowiak, Miller, Parent,
<br />RESOLUTION NO. 388 -73 A RESOLUTION FINDING AND ADJUDGING THAT THE
<br />FINANCING OF FACILITIES FOR MID -WEST PRODUCERS'
<br />CREAMERIES, INC. BY THE ISSUANCE BY THE CITY
<br />OF SOUTH BEND, INDIANA, OF ITS ECONOMIC
<br />DEVELOPMENT REVENUE BONDS PERTAINING TO SUCH
<br />FACILITIES FOR SUCH ENTITY WILL BE OF BENEFIT
<br />TO THE HEALTH OR WELFARE OF THIS MUNICIPALITY,
<br />AND APPROVING THE FINANCING THEREFOR.
<br />WHEREAS, the Common Council of the City of South Bend, Indiana, heretofore has
<br />created the South Bend Development Commission, hereinafter referred to as "Commission ",
<br />pursuant to the provisions of the Municipal Economic Development Act of 1965, as amended,
<br />supplemented or added to, including but not limited to the amendments, supplements or
<br />additions of IC -1973, 18- 6 -4.5, or any other amendments, supplements or additions -
<br />thereto, hereinafter referred to as the "Act "; and
<br />WHEREAS, Mid -West Producers' Creameries, Inc. has filed an application with the
<br />Commission to finance the acquisition of real estate and the construction thereon of an
<br />industrial and commercial building (facilities) which will constitute economic development
<br />facilities resulting in a substantial number of new jobs as well as other benefits; and
<br />WHEREAS, in connection therewith the Commission has prepared and placed on file a
<br />report containing the subject matter as specified in Section 16 of IC -1973, 18 -6 -4.5 and
<br />has forwarded copies thereof to the Chairman of the Area Plan Commission and to the
<br />Superintendent of the School Corporation in the area of which the facilities will be
<br />located, and has timely received favorable reports from each of them; and
<br />WHEREAS, the Commission held a public hearing on the proposed financing of such
<br />facilities on August 31, 1973, after giving the required notice as provided for in
<br />Section 17 of IC -1973, 18- 6 -4.5; and
<br />WHEREAS, the Commission at such meeting by a duly adopted written resolution,
<br />incorporated herein by reference, found that the proposed financing complies with the
<br />purposes and provisions of the Act, and approved such financing, including, but not
<br />limited to, the forms and terms of the financing agreement consisting of the Lease and
<br />Trust Indenture and the Bonds; and
<br />WHEREAS, this Common Council of the City of South Bend, Indiana, now finds that
<br />the proposed financing of such facilities for Mid -West Producers' Creameries, Inc. will
<br />be of benefit to the health or welfare of the City of South Bend, Indiana, and that,
<br />accordingly, this resolution should be adopted.
<br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend,
<br />Indiana, that:
<br />Section 1. Such financing for Mid -West Producers' Creameries, Inc. under the Act
<br />be and the same is hereby approved.
<br />Section 2. This resolution shall be in full force and effect from and after its
<br />passage by the Common Council and approval by the Mayor.
<br />s/ Peter J. Nemeth
<br />Member of the Common Council
<br />A public hearing was held on the resolution at this time. Mr. Kenneth Fedder, Attorney for the
<br />Economic Development Commission, indicated that the commission had approved the application and
<br />financing on August 31, 1973. He introduced Mr. Warren McGill, the attorney representing the firm,
<br />Mr. McGill indicated that the building was proposed to encompass 4,000 square feet on two floors,
<br />aggregating 8,000 square feet. He indicated that 23 -24 employees are presently employed and that
<br />5 employees would be added to the staff. He stated that there would be an increase in the tax
<br />base for the city. He indicated that the building was proposed to be constructed immediately and
<br />would be located on Ironwood Road south of the New London Condominiums. The firm would be moving
<br />from the Whitcomb - Keller Building.
<br />Councilman Taylor made a motion that the resolution be adopted, seconded by Councilman Kopczynski.
<br />The resolution passed by a roll call vote of nine ayes (Councilmen Serge, Szymkowiak, Miller,
<br />Parent, Taylor, Kopczynski, Horvath, Newburn and Nemeth).
<br />RESOLUTION NO. 389 -73 A RESOLUTION FINDING AND ADJUDGING THAT THE
<br />FINANCING OF FACILITIES FOR HILL WHITE TRUCK
<br />SALES, INC. BY THE ISSUANCE BY THE CITY OF
<br />SOUTH BEND, INDIANA, OF ITS ECONOMIC
<br />DEVELOPMENT REVENUE BONDS PERTAINING TO SUCH
<br />FACILITIES FOR SUCH ENTITY WILL BE OF BENEFIT
<br />
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