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CITY OF Soum $EN'D ST.EmEN J. LuEcIF, MAYOR <br />.DEPARTMENT OF ADMINISTRATION AND RNANCE <br />GREGG D. ZIENTARA <br />CONTROLLER <br />a.R <br />November 3, 2010 <br />Mr. Derek D. Dieter <br />President of the Common Council of the City of South Bend <br />4'h Floor, County -City Building <br />South Bend, IN 46601 <br />Re: Ordinance of the Common Council Appropriating Certain Monies for Capital <br />Improvements to the Stanley Coveleski Regional Baseball Stadium in 2011 <br />Dear President Dieter: <br />The referenced subject matter bill is being submitted to the Common Council in tandem <br />with an ordinance approving issuance of Recovery Zone Economic Development Bonds and the <br />appropriation of bond proceeds. The total combined monies from the bond proceeds and from <br />other funds will be expended for improvement and renovation to the Stanley Coveleski Regional <br />Stadium. These renovations will enable broader, year -round use of the ballpark, expanding its <br />economic impact and creating potential development sites for housing and commercial /retail <br />users. It is the belief of City Administration that a renovated stadium and environs is in the best <br />interest of the central downtown district and the South Bend Community. <br />This spending appropriation bill requests $2,686,000 from County Option Income Tax <br />(COIT) Fund #404 and $520,000 from Economic Development Income Tax (EDIT) Fund #408, <br />both for spending in fiscal 2011. Monies are available within the COIT and EDIT funds, from <br />excess cash_ balances and unspent COIT and EDIT revenues from prior periods. <br />This bill is submitted to Common Council for first reading at the November 8, 2010 <br />Council meeting, with second reading and public hearing requested for the November 22, 2010 <br />Council meeting. City Administration requests that the bill be continued from the November 22, <br />2010 Council meeting to the first Common Council meeting in January, 2011 for third reading <br />and Council vote. This delay is being requested to ensure compliance with the State of Indiana <br />DLGF that post 2011 budget approvals not occur before the beginning of the fiscal 2011 year. <br />The total project costs defined are $10,175,445, identified in Exhibit "I" attached, and <br />will be funded from the fallowing sources: <br />COUNTY-CiTy BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601 -1830 <br />PHONE 5741235 -9216 FAX 5741235 -9928 TDD 5741235 -5567 <br />