HomeMy WebLinkAboutCRC -2012-01 Grants AutorizationCITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. ► -2012
WHEREAS, Carmel City Center Community Development Corporation ( "4CDC ") is a
community development corporation formed for the purpose of constructing, rehabilitating, and /or repairing
commercial property within the district;
WHEREAS, pursuant to IC § 36 -7 -14- 12.2(26), CRC may provide financial assistance
(including grants and loans) to community development corporations to permit such community development
corporations to construct, rehabilitate, or repair commercial property within the district;
WHEREAS, attached hereto as Exhibit A is a true and correct copy of CRC Resolution
No. 9 -2011 (the "November Resolution "), which: (a) was adopted by CRC at a meeting: (i) held on
November 1, 2011; and (ii) in compliance with IC 5- 14 -1.5; (b) has not been amended, repealed, rescinded,
or revoked; and (c) is in full force and effect on the date hereof.
WHEREAS, pursuant to the November Resolution, CRC authorized four separate grants to
4CDC, one of which was defined as the M &I Grant;
WHEREAS, subsequent to the execution of the November Resolution, M &I Bank became
Harris Bank N.A.;
WHEREAS, what was referred to in the November Resolution as the M &I Grant is in the
process of being documented;
WHEREAS, the line of credit that will be secured by an assignment of the grant agreement
pursuant to which CRC makes what was referred to in the November Resolution as the M &I Grant has been
referred to by CRC as the M &I Loan;
WHEREAS, the M &I Loan is in the process of being documented; and
WHEREAS, CRC desires to: (a) acknowledge that M &I Bank has become Harris Bank N.A.;
and (b) confirm that the M &I Grant and the M &I Loan now constitute the "Harris Grant" and the "Harris Loan ",
respectively;
NOW, THEREFORE, BE IT RESOLVED THAT:
CRC hereby: (a) acknowledges that M &I Bank has become Harris Bank N.A.; and (b) confirms that the M &I
Grant and the M &I Loan now constitute the Harris Grant and the Harris Loan. Accordingly, all references in
the November Resolution and any subsequent documentation to the M &I Grant and the M &I Loan now shall
be deemed to be references to the Harris Grant and the Harris Loan.
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Passed by the City of Carmel Redevelopment Commission this 18th day of January, 2012,
by a vote of y ayes and () nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
By:
By:
B
illiam H
mmer, President
rrell, Secretary
David C. Bowers
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