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Personnel and Finance Committee <br /> March 25, 1991 <br /> Page 2 <br /> the purpose of bringing a Tripe-A franchise to the City of <br /> South Bend. <br /> Mayor Kernan noted that this process began late last summer. <br /> On November 13, 1990, a presentation was given in Chicago by <br /> 18 cities interested in having a Triple-A franchise. The <br /> number was reduced to 14 cities, with the cities placed into <br /> 2 categories. The City of South Bend was placed on the "Must <br /> Perform List" . The conditions were that the City must sell <br /> 2,500 season tickets for the first season of the Triple-A <br /> franchise, and the second condition was that there must a <br /> commitment to expand the stadium to a capacity of 10, 000 <br /> seats. <br /> Mayor Kernan noted that Judge Montgomery chairs the Citizens <br /> Committee, which recommended in favor of expanding the <br /> stadium along the foul lines. The cost would be <br /> approximately $2,000,000. 00, with the total cost being <br /> projected at approximately $2,500,000. 00 when bond financing <br /> is addressed. Such a bond would be paid by the increased <br /> revenues realized from the franchise. It is projected that <br /> if there is an attendance of approximately 225, 000 people in <br /> a season, that the additional revenue would be approximately <br /> $425, 000. 00. Mayor Kernan noted that currently 2, 325 <br /> subscribers have deposited $50. 00 each for the Triple-A <br /> season tickets. He noted that the City will know in <br /> approximately 2 weeks, as to its current position. If the <br /> City is successful with the next cut, there will then be a <br /> site visit in May or June. The timing is directly tied to <br /> the expansion at the Major League level. Mayor Kernan noted <br /> that there would be no expansion if the City does not <br /> receive the Triple-A franchise. He also noted that no <br /> property taxes would be used to finance the expansion. <br /> Following further discussion, Council Member Zakrzewski made <br /> a motion seconded by Council Member Ladewski, that <br /> Resolution No. 91-22 be recommended favorably to Council. <br /> The motion passed. <br /> There being no further business to come before the Council, <br /> the meeting was adjourned at 5:35 p.m. <br /> Respectfully submitted, <br /> Ann Puzzello, Chairperson <br /> Personnel and Finance Committee <br />