No. 0985 expressing its intent to expand Stanley Coveleski Regional Stadium for the purpose of bringing a Triple-A franchise to the COSB

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RESOLUTION NO. 985 A RESOLUTION OF THE SOUTH BEND, INDIANA, REDEVELOPMENT COMMISSION EXPRESSING ITS INTENT TO EXPAND STANLEY COVELESKI REGIONAL STADIUM FOR THE PURPOSE OF BRINGING A TRIPLE -A FRANCHISE TO THE CITY OF SOUTH BEND WHEREAS, an application has been filed with the Triple -A Baseball Expansion Committee (Committee) to award a Triple -A Franchise to the City of South Bend; and WHEREAS, the City of South Bend has been placed on a "must perform" list to meet the objective criteria established by the Committee by March 31, 1991; and WHEREAS, one (1) of the criteria established by the Committee is to have a stadium with a seating capacity for ten thousand (10,000) fans by the 1993 Baseball Season; and WHEREAS, a Citizen's Advisory Committee Chaired by Judge John Montgomery has recommended to the Mayor that the expansion of Stanley Coveleski Regional Stadium be accomplished by adding seating along each foul line; and WHEREAS, the financing of said Stadium can be accomplished by a Lease - Purchase Bond Issue without an additional levy of property taxes by prudent use of enhanced Triple -A Coveleski revenues; and WHEREAS, it is the specific intent of the South Bend Redevelopment Commission, in conjunction with the South Bend, Indiana, Redevelopment Authority and the Common Council of the City of South Bend to take the appropriate action under Indiana State Law to finance the construction of an expansion of Stanley Coveleski Regional Stadium to a seating capacity for ten thousand (10,000) fans. NOW THEREFORE BE IT RESOLVED BY THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION, AS FOLLOWS: Section I. That it is in the best interest of the City of South Bend to obtain a Triple -A Franchise. Section II. That after the Triple -A Expansion Committee awards a Coe Triple -A Franchise to the City of South Bend, the South Bend. Redevelopment Commission expresses its specific intent to take all such action under Indiana Law in conjunction with the South Bend Redevelopment Authority and the Common Council of the City of South Bend to finance the expansion of Stanley Coveleski Regional Stadium to a seating capacity for ten thousand (10,000) fans by the 1993 Baseball Season.