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®CITY OF SOUTH BEND ' OFFICE OF THE CLERK assist with a double tracking project that's estimated at eighteen (18) million dollars. The Commission was to commit towards rerouting the tracks to the approach to the airport, and that was a twenty-five (25) million-dollar commitment. Subsequently, towards the end of that year in November,the City Council passed a resolution also in support of the double tracking project, and the impact that it would have on South Bend's economy of shortening the trip between South Bend to Chicago. Here are some of the changes. Over the last several weeks there's been communication between the City and County, as well as the State about redoing this MOU and developing a new MOU. So, this process is now underway. More details on the State mandate and how the Federal funding for this project, the double tracking project has been put together can be shared by Mike Nolan and Andy Kostielney. In this new MOU the County has asked the City to split the cost of double tracking. So, the cost of double tracking is 18.25 million. We expect the cost, the City, RDC, Redevelopment Commission would issue TIF bonds in the amount of 9.125 million. The County would commit the same amount, 9.125 million towards the cost of the station, where the station and its destination is made and the location is determined, the County would make City whole by committing that amount towards the station and I think that's important to note. We are making progress on this MOU, but we've also asked NICTD to step in and offer a commitment for twenty (20) years, which they have agreed to have a station in South Bend for twenty (20) years. So, our MOU that is now in the process of getting approval through the City's Redevelopment Commission says that this MOU's only contingent on NICTD signing a twenty (20) year commitment towards maintaining a station in South Bend. Mr. Kain continued, That's a separate agreement that will go to NICTD and perhaps Mike Nolan can share a couple of things about that. The issuance schedule for the bond which we are contemplating would really begin with the Redevelopment Commission meeting which is on October 26th, and then the Commission would set a date for public hearing. Subsequently, there would be meetings for the Redevelopment Authority. Then the City Council would hear the bond resolution on October 28`h. Following the October 28th meeting, November 14th is when the RDC and RDA would meet again to adopt resolutions authorizing the issuance of the bonds. The bonds would then be issued in December 2019. Just a quick update on the study. As you know,the City's been working with ACOM to do further engineering analysis on the downtown South Shore station. As you know, the Mayor announced last year that this work is underway. The work essentially involved three (3) components. Survey work along the routes to downtown, structure analysis with all of the structures along the route and then coordination with Norfolk Southern because they have maintained more civil ridership along that route. Much of this work has been completed. The structure analysis is wrapping up, but the survey work has been done in coordination with Norfolk Southern. ACOM is also developing an economic impact analysis of the airport cargo master plan project. As you know, this is something that came after the five (5) sites that the City had studied, addressed and looked at the economic impact. This came later, so now,this is being added to that previous economic impact analysis.We expect both of these studies to be completed this fall, and then we will be back to you with more updates. With that, I'd like to invite Mike Noland to share a few details about the Federal funding. Mike Nolan, 2711 Floral Trail, Long Beach, IN, stated, Thank you for having me here today, and I'm happy to share with you where we are with the double tracking project. Right now, it's about a 420-million-dollar project. It encompasses a twenty-five(25)mile section between Gary, IN and EXCELLENCE I ACCOUNTABILITY INNOVATION I INCLUSION EMPOWERMENT 455 County-City Building 1227 W.Jefferson Bvld South Bend,Indiana 46601 p 574.235.9221 f 574.235.9173 I I D574.235.5567 www.southbendin.gov 2