Laserfiche WebLink
®CITY OF SOUTH BEND I OFFICE OF THE CLERK <br /> that PSAP agreement and the new facility. The County issued its bonds and the City of South <br /> Bend, through Mayoral Designation and pursuant to that agreement that Council approved back <br /> then, designated a portion of the City's distributive share to the County. So the City never even <br /> sees that money and so the ordinance simply makes reference to the fact that these bonds will be <br /> issues unmarried with the 2015 bonds. There is also a component of the EDIT revenue, the LOIT <br /> and the LIT that is received by the County. We just needed to make that clear in the ordinance so <br /> that as the bonds go on the market, the market understands that these are married with the 2015 <br /> bonds but there is a portion of the LIT revenue that is not received by the City because of the <br /> Mayoral designation. <br /> Councilmember Oliver Davis stated, I was just concerned when it was announced that the City <br /> pledges $3.7 million. I was concerned about the fact that the pledge was done prior to coming to <br /> our Council. It was reported in the South Bend Tribune on August 10th,2018 that says that the City <br /> of South Bend will help pay for the project and they pledged $3.7 million. I didn't know how <br /> pledges are done prior to coming before the Council because then it puts us in a tough position. <br /> Did the Administration just plan that without talking to the Council? <br /> Mr. Rompola replied,I understand it was in the agreement between the Zoological Society and the <br /> City, agreed to by the Parks Board. It contemplated that amount being available but it wasn't truly <br /> a pledge because it hadn't been approved by Council. It just stated in the agreement that the Parks <br /> Board would pursue that funding but,obviously as you said, it hadn't come before the Council for <br /> approval so it is not accurate to call it a pledge. <br /> Councilmember Davis followed up, Yeah, that was my concern. Before pledges are made out <br /> there,I would like to have had to have input from this Council ahead of that. Speaking to that same <br /> situation, we are doing $900,000 per year at this time? The City is? <br /> Ms. Dean replied,At your current agreement it is$700,000 per year. We are in year five(5)of the <br /> current public-private partnership. <br /> Councilmember Davis asked, So it's dropped down? It was $900,000 at first(1St)? <br /> Ms. Dean replied, Yes. The last five (5) years it has been tiered. So in year four(4) and five (5) it <br /> was $700,000. <br /> Councilmember Davis followed up, I didn't understand. If we are at$700,000 now, why isn't that <br /> we could have, we have ten(10) more years left? <br /> Ms. Dean replied, The new agreement will be fifteen(15)? <br /> Councilmember Davis replied,No, I'm talking about the old one (1). <br /> Ms. Dean replied, Five (5), we are in year five (5) of a five (5) year agreement. <br /> Councilmember Davis stated, I need some clarification on how that was done. So this is the last <br /> year of the agreement that we had at that time? <br /> Ms. Dean replied, Yes. <br /> EXCELLENCE I ACCOUNTABILITY 1 INNOVATION I INCLUSION I EMPOWERMENT <br /> 455 County-City Building 1 227 W Jefferson Bvld I South Bend,Indiana 466011 p 574.235.92211 f574.235.91731 TTD 574.235.5567 j www.southbendin.gov <br /> 15' <br />