11-30-10 Special Council Meeting Agenda & Packet

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Exhibit Ii FACTS ABOUT STANLEY COVELIESKI REGIONAL STADIUM 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 leases the facility to the South Bend Silver Hawks, a Class A minor league baseball franchise. When it first opened for baseball in 1988 to host the South Bend White Sox, Coveleski Stadium quickly gained a reputation as "the grandfather of the modern ballpark," according to Bali ParkReviews.com. Its design template inspired other ballparks like Baltimore's Oriole Park at Camden Yards and Cleveland's Jacobs Field, which were built in the heart of downtowns and urban neighborhoods. Approaching its 25'h anniversary, Coveleski Stadium requires reinvestment to continue to meet standards for minor - league playa The stadium has not attained minimum lighting standards for the past 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 the stadium up to par with other Midwest League facilities. Coveleski is the fifth oldest stadium in the Midwest League with 12 stadiums built after the Cove (with most recent costs ranging from $20 million to $33 million.) The City of Fort Wayne, for example, demolished suburban Memorial Stadium built six years after `The Cove" to build a new $30.8 - million Parkview Field downtown in 2009. The Cove's proposed $9.75 million renovation is less than recent Midwest League renovations of $10.5 million in Kane County, Ill., and $12.5 million in Davenport, Iowa. In 2007, the City of South Bend began discussions with Cove architect HOK Sport (now Populous) to enhance the stadium facility, create greater connectivity with downtown and foster economic - development opportunities in the surrounding neighborhood. This effort coincided with the planned relocation of the Gates automotive dealership to Erskine Commons. Since then, the City has acquired nearly 15 contiguous acres of property surrounding the stadium as part of a strategy to encourage new, mixed -use development. `The Cove" has drawn more than 4 million fans since 1987, offering 70 days of family entertainment downtown. The economic impact of visitors for the home -game schedule alone reaches nearly $700,000 annually. In addition, the Professional Sports Development Fund enables the City to capture as much as $400,000 annually in sales tax revenue, which would otherwise go to the state. The renovations will enable broader, year -round use of the ballpark, expanding its economic impact and creating potential development sites for housing and commercial /retail uses. Initial improvements in the 2010 season included renovated restrooms, drainage improvements, new padding for the outfield wall and a new backstop net. Projects funded by the Recovery Zone Economic Development Bond proceeds and other sources include: • A new centerfield entrance, ticket office and concessions area. • An expanded concourse with 360 - degree seating. • Basic facility upgrades to the scoreboard, sound system, lights, mechanical systems, restrooms and food- service areas. • Major overhaul of the field drainage system with a new artificial turf field, • Upgraded fan amenities including a picnic area, Kids Zone and splash pad, new concourse -level suites, a left field home run area and a refurbished Upper Deck area. • Renovated dugouts and locker rooms for player safety and a new training facility. • A new team store in the renovated B'Nai Yisrael (Sons of Israel) Synagogue.