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REGULAR MEETINGDECEMBER 11, 2006 <br />BILL NO. 86-06 PUBLIC HEARING ON A BILL OF THE <br /> COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND INCREASING APPROPRIATIONS AND <br /> DECREASING APPROPRIATION WITHIN THE <br /> VARIOUS DEPARTMENTS WITHIN THE <br /> VARIOUS FUNDS OF THE CITY OF SOUTH <br /> BEND, INDIANA FOR THE YEAR 2006 <br />Councilmember Pfeifer, Chairperson, Personnel & Finance Committee, reported that this <br />committee held a Public Hearing on this substitute bill this afternoon and sends it to the <br />full Council with a favorable recommendation. <br />th <br />Rahman Johnson, Director, Financial Services, Administration and Finance, 12 Floor <br />County-City Building, South Bend, Indiana, made the presentation for this bill. <br />Mr. Johnson advised that unforeseen conditions have developed since the adoption of the <br />existing budgets which necessitates the increase and reduction of appropriations within <br />the various departments of the General Fund and other funds of the City. <br />This being the time heretofore set for the Public Hearing on the above bill, proponents <br />and opponents were given an opportunity to be heard. <br />There being no one present wishing to speak to the Council either in favor of or in <br />opposition to this bill, Councilmember Rouse made a motion for favorable <br />recommendation to full Council concerning this bill as substituted. Councilmember <br />Kelly seconded the motion which carried by a voice vote of nine (9) ayes. <br />BILL NO. 87-06 PUBLIC HEARING OF A BILL OF THE <br /> COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND, INDIANA APPROPRIATING $965,051.67 <br /> OF INDIANA COMMUNITY REVITALIZATION <br /> ENHANCEMENT DISTRICT INCREMENT <br /> FUNDS WITHIN THE INDUSTRIAL <br /> DEVELOPMENT FUND, FUND 434, FOR THE <br /> PURPOSE OF DEVELOPMENT AND <br /> REDEVELOPMENT WITHIN THE CITY OF <br /> SOUTH BEND STUDEBAKER/OLIVER <br /> COMMUNITY REVITALIZATION <br /> ENHANCEMENT DISTRICT <br />Councilmember Kelly, Chairperson, Community and Economic Development <br />Committee, reported that this committee held a Public Hearing on this bill this afternoon <br />and voted to send it to the full Council with a favorable recommendation. <br />Mr. Andy Laurent, Economic Development Specialist, Community & Economic <br />th <br />Development, 12 Floor County-City Building, South Bend, Indiana, made the <br />presentation for this bill. <br />Mr. Laurent advised that this bill would appropriate $965,051.67 from the Industrial <br />Development Fund, Fund 434, for demolition activities and repayment of the Section 108 <br />Loan for the Studebaker/Oliver Project. Mr. Laurent stated that Indiana Code 36-7-13-5 <br />(c), states that the Council may not conduct any business requiring expenditures from <br />Fund 434 without the approval, in writing, of a majority of the members of the South <br />Bend Advisory Commission on Industrial Development. On November 8, 2005 the <br />Advisory Commission on Industrial Development met and unanimously approved <br />Resolution No. 3-2005 pledging CRED revenues to repayment of the Section 108 loan <br />between the City of South Bend and the U.S. Department of Housing and Urban <br />Development and Resolution No. 4-2005 recommending that the $965,051.67 received <br />for Fiscal year 2005 be appropriated and spent for the repayment of the Section 108 Loan <br />for the Studebaker/Oliver Project. Subsequent to that meeting of the Advisory <br />6 <br /> <br />