11-22-10 Council Agenda & Packet

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AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA APPROPRIATING $2,686,000 FROM COUNTY OP'T'ION INCOME TAX (COIT) FUND #404 AND $520,000 FROM ECONOMIC DEVELOPMENT INCOME TAX (EDIT) FUND #408 FOR CAPITAL IMPROVEMENTS TO THE STANLEY COVELESKI REGIONAL BASEBALL STADIUM IN 2011 STATEMENT OF PURPOSE AND INTENT Built for $11 million in 1987, the 5,000 -seat Stanley Coveleski Regional Stadium is worth an estimated $35 million to $40 million today. The stadium is owned by the City of South Bend and managed by the Parks and Recreation Department, which authorizes use of the facility to the South Bend Silver Hawks, a Class A minor league baseball franchise. Approaching its 25`h anniversary, Coveleski Stadium requires reinvestment to continue to meet standards for minor - league play. The stadium has not attained minimum lighting standards for the pas,, few years. The grass field needs replacement to address drainage issues. The stadium is out of compliance with the state required number of restrooms. Providing an indoor hitting and pitching facility will bring Coveleski Stadium up to par with other Midwest League facilities. This ordinance is submitted in tandem with a bond issuance and appropriation ordinance, the total combined funds from which will be used for much needed improvement and renovation to the Stanley Coveleski Regional Stadium. These renovations will enable broader, year -round use of the ballpark, expanding its economic impact and creating potential development sites for housing and commercial /retail users. A renovated stadium and environs is in the best interest of the entire South Bend Community. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION 1. The sum of Two Million Six Hundred Eighty -Six Thousand Dollars ($2,686,000) be and hereby is appropriated from County Option Income Tax (COIT) Fund (#404) for capital improvements to the Stanley Coveleski Regional Baseball Stadium in 2011. SECTION II. The sum of Five Hundred Twenty Thousand Dollars ($520,000) be and hereby is appropriated from Economic Development Income Tax (EDIT) Fund ( #408) for capital improvements to the Stanley Coveleski Regional Baseball Stadium in 2011, SECTION III. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Member of the Common Council OP sIff v'i6 $.;_: i ..; € '�+adrjq and ` .