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COMMUNITYAND ECONOMIC DEVELOPMENT COMMITTEE <br />2006 Common Council -Tuesday, September S, 2006 - 6:00 - 8: OD p.m. <br />Project Future Funding <br />Attendance: Councilmember's Kelly, Puzzello, Rouse, Varner, White Pfeifer and Marty <br />Wolfson, Citizen Member <br />Others Present: Dick Nussbaum, Davie Switzer, Phil Newbold, Chuck Viater, Michael <br />Compton, Linda Wolfson, Pat McMahon, Tom Pilot, Jan Fye, Mark Charbonneau, Jamie <br />Loo -South Bend Tribune, Scott Tingwald, Mayor Steve Luecke, Eric Brown, Jahn <br />Patron, Hardie Blake, Tom Hall, Jack Daly, Don Babcock, Judy Jankowski <br />Councilmember Kelly, Chairperson, Community and Economic Development Committee <br />began the meeting promptly at 6:00 p.m. He introduced Phil Newbold, Chairperson, <br />Project Future, Board Of Directors. <br />Mr. Newbold spoke to the need for investment in economic development now more than <br />ever. He spoke of the need for intellectual infrastructure for high-tech new job creation <br />pointing to Metronet and the Technology Park near ND as vital components. He <br />promised improved communication and accountability between the Council and Project <br />Future. This would include more information on budgets, goals, and "measuring sticks" <br />to gauge Project Future's performance. He suggested quarterly reports to Council. <br />Councilmember Varner suggested a need to develop a level of trust when public dollars <br />are used. The Council should know the direction of Project Future. lt's failures as well <br />as success' <br />Councilmember Kelly agreed that Project Future cannot operate in a vacuum. <br />Councilmember Puzzello offered a friendly amendment to the Project Future funding <br />resolution to include quarterly reports. <br />Councilmember Varner supported. <br />Councilmember Rouse questioned the need for afive-year commitment through <br />recognizing the policy of annual review. <br />Councilmember White asked why the $10,000.00 increase? <br />Councilmember Newbold said Project Future had a great story to tell and was anxious to <br />do so. He described Project Future as the face of economic development activity needing <br />resources to respond to both jab creation and retention in companies small and large <br />rendering technical assistance as well as paths to venture capital and public partners. <br />