11-28-11 Common Council Meeting Minutes

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REGULAR MEETINGNOVEMBER 28, 2011 , WHEREAS the Common Council of the City is the municipal legislative body of the City and now desires to approve the Plan Commission Order in order to permit the Commission to proceed with the redevelopment of the Area; NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: 1. The Plan Commission Order (Resolution No. 222-11) attached hereto is in all respects hereby approved, ratified and confirmed. 2. This Resolution shall be in full force and effect from and after its adoption by the Common Council of the City and compliance with procedures required by law. PASSED AND ADOPTED by the Common Council of the City of South Bend, Indiana, this 28th day of November, 2011. s/Derek D. Dieter Member of the Common Council Councilmember Rouse, Chairperson, Community and Economic Development Committee, reported that that this committee held a meeting this afternoon and it was the consensus of the committee to send this bill to the full Council with a favorable recommendation. th Mr. Matt Sikora, Staff Member, Economic Development Department, 12 Floor County- City Building, 227 W. Jefferson Blvd., South Bend, Indiana, made the presentation for this bill. Mr. Sikora advised that this bill would allow for various parcels to be added to the Airport Economic Development Area Acquisition List. The first parcel is located at 401 N. Bendix Drive and is adjacent to the Bosch complex. Adding this parcel would allow for broadened development possibilities at the Bosch site and they look to future users and potential plans for expansion. The other three parcels are located at the 1300 Block of South Michigan Street. This is an area in which the City owns a number of individual parcels within the block so acquisition of the sites would allow for better site control and a more developable, marketable site. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Oliver Davis made a motion to adopt this Resolution. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of eight (8) ayes. BILLS - FIRST READING BILL NO. 75-11 FIRST READING ON A BILL SUPPLEMENTING AND AMENDING ORDINANCE NO. 9722-06 AND ORDINANCE NO. 9968-09 PERTAINING TO THE CITY OF SOUTH BEND, INDIANA VARIABLE RATE ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 2007 (PEI/GENESIS PROJECT) (THE “BONDS”), APPROVING THE FORM OF, AND AUTHORIZING THE EXECUTION AND DELIVERY OF, A SECOND AMENDED AND RESTATED TRUST INDENTURE, A SECOND AMENDED AND RESTATED LOAN AGREEMENT AND OTHER DOCUMENTS RELATED TO THE BONDS AND 14