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MAJOR CAPITAL PROJECT DESCRIPTION <br />FOR FEARS 2005 - 2008 <br />Activity Date <br />2005 $1,400,000 <br />2006 900,000 <br />2007 450,000 <br />TOTAL $2,750,000 <br />Projected Ongoing_Operating Cost Impact <br />No additional net operating costs to be inciurred by the City are projected for this project. <br />Main-Jefferson Office Project <br />$5,500,000 (2005) <br />This project consists of aprivate-public partnership to develop a 45,000 to 90,000 square foot Class <br />A office at the southwest corner of Main and Jefferson Streets in downtown South Bend. The City <br />will assemble the site by undertaking acquisition, relocation and demolition activities. In addition, <br />the City will provide public right-of--way investment including curbs, sidewalks, street trees, <br />landscaping, lighting and street furniture :improvements. The project parking demands will be <br />handled by a variety of means including on-site and adjacent parking spaces. <br />Funding Source <br />Financing funded by Economic <br />Development Income Tax (EDIT) <br />Activity Date Fund, TRANSPO Federal Grant <br />2005 5 500 000 <br />TOTAL $5,500,000 <br />Pfojected On oin Operating Cost Im >l act <br />No operating cost impact is projected for tlris project. The building owner and tenants will be <br />responsible for maintenance and repair of landscaped areas. <br />PARK AND RECREATION DEPARTMENT <br />Southeast Park Basketball Complex <br />$750,000 (2005) <br />South Bend is 45 basketball courts below standards set by the National Recreation and Parks <br />Association. This complex seeks to addrf;ss this deficit and the objection neighbors have with <br />putting basketball courts in their neighborhoods by establishing this complex in a park away from <br />residential areas. <br />Funding Source <br />Park Department Capital Funds <br />County Option Income Tax (COIT) <br />D-40 <br />