09/17/90 Board of Public Works Minutes

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REGULAR MEETING SEPTEMBER 17, 1990 in part of Sections 29, 30, 31 and 32, Township 38 North, Range 2 East, German Township, St. Joseph County, Indiana. The Legal Description for the Annexation Area, marked as Exhibit 1, is attached hereto and made a part hereof. A map showing the Annexation Area, marked as Exhibit 2, is attached hereto and made a part hereof. There are approximately 489.50 acres of land within the Annexation Area. The Annexation Area is within the Airport 2010 Project area. II. EXISTING LAND USE There are three residential lots which comprise approximately 21.5 acres of the entire Annexation Area. The remaining 468 acres are vacant land. III. PROPOSED DEVELOPMENT The Airport 2010 plan designates this proposed Annexation Area for an office park and corporate office campus development. The office park and corporate office campus project will include a golf course and hotel. The golf course will be privately owned and opened for public play. All surface drainage is to be handled in compliance with the City of South Bend's Subdivision Standards. The developer of the project will be responsible for infrastructure improvements that are directly related to building sites, the golf course and the hotel site. The City will be responsible for the development of city streets and utilities and will finance its portion of the improvements through the sale of a Tax Increment Revenue Bond. State funds are being sought for a portion of the improvements, including an expanded Toll Road interchange. Should state funds not immediately be available in the amount required, the project schedule will be revised and the extent of the initial development revised. IV. PROVISION OF CITY SERVICES A. Public Works No additional expenditure from the City's general fund or operating budget will be required to provide the proposed street and utility improvements. Funds for the development of the internal city street system will be provided by a Redevelopment Commission and Authority's Tax Increment Bond Issue. The Redevelopment Commission and Authority will sell bonds of approximately $6,000,000 to finance the City's portion of the improvements by December 1990. Development in this manner of an internal city street system shall be complete within three (3) years after the effective date of the annexation. Additional improvements to the major roads in the area, including the Toll Road interchange, will be sought from the State of Indiana's Transportation Improvement Fund and Toll Road General Reserve Fund. Private developers will be required to provide capital improvements directly related to the development sites, golf course and hotel site. The proposed streets represent less than one percent (1%) of the City's current road system and can be easily maintained with existing personnel and equipment without additional expenditure of money. The existing wastewater treatment and collection systems can provide service to the proposed area without any additional expenditures by the City. The existing water system is adequate and currently available to the Annexation Area. These services shall be furnished to the Annexation Area immediately upon the effective date of the annexation. 1