Laserfiche WebLink
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA APPROPRIATING $2,686,000 FROM COUNTY OPTION INCOME TAX <br />(COIT) FUND #404 AND $520,000 FROM ECONOMIC DEVELOPMENT INCOME <br />TAX (EDIT) FUND #408 FOR CAPITAL IMPROVEMENTS TO THE STANLEY <br />COVELESKI REGIONAL BASEBALL STADIUM IN 2011 <br />STATEMENT OF PURPOSE AND INTENT <br />Built for $11 million in 1987, the 5,400 -seat Stanley Coveleski Regional Stadium is <br />worth an estimated $35 million to $40 million today. The stadium is owned by the City of South <br />Bend and managed by the Parks and Recreation Department, which authorizes use of the facility <br />to the South Bend Silver Hawks, a Class A minor league baseball franchise. <br />Approaching its 25'h anniversary, Coveleski Stadium requires reinvestment to continue to <br />meet standards for minor - league play. The stadium has not attained minimum lighting standards <br />for the pass few years. The grass field needs replacement to address drainage issues. The stadium <br />is out of compliance with the state required number of restrooms. Providing an indoor hitting and <br />pitching facility will bring Coveleski Stadium up to par with other Midwest League facilities. <br />This ordinance is submitted in tandem with a bond issuance and appropriation ordinance, <br />the total combined funds from which will be used for much needed improvement and renovation <br />to the Stanley Coveleski Regional Stadium. These renovations will enable broader, year -round <br />use of the ballpark, expanding its economic impact and creating potential development sites for <br />housing and commercial /retail users. A renovated stadium and environs is in the best interest of <br />the entire South Bend Community. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA as follows: <br />SECTION 1. The sum of Two Million Six Hundred Eighty -Six Thousand Dollars <br />($2,686,000) be and hereby is appropriated from County Option Income Tax (COIT) Fund <br />(#404) for capital improvements to the Stanley Coveleski Regional Baseball Stadium in 2011. <br />SECTION 11. The sum of Five Hundred Twenty Thousand Dollars ($520,000) be and <br />hereby is appropriated from Economic Development Income Tax (EDIT) Fund ( #408) for capital <br />improvements to the Stanley Coveleski Regional Baseball Stadium in 2011. <br />SECTION 111. This Ordinance shall be in full force and effect from and after its passage <br />by the Common Council and approval by the Mayor. <br />Member of the Common Council <br />at <br />n6 ¢ ,f E11-t13 .)� .,.. !4.3 <br />rig e;� � <br />and <br />