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Karen L. White, President <br />April 10, 2003 <br />Page Two <br />After reviewing various methods to finance the project, we have selected a lease structure <br />through the City of South Bend Building Corporation. The lease rentals payable under the Lease <br />by the City shall be payable solely from the County Option Income Tax revenues (COIT). There <br />has been filed with the Common Council of the City a petition certified by the St. Joseph County <br />auditor signed by at least fifty (50) owners of real property subject to taxation by the City. <br />Please call me if you have any questions regarding the same. We plan to make a presentation on <br />this request on Apri128, 2003, if that meets with your approval. Thank you for your favorable <br />consideration of this ordinance. <br />Sincerely, <br />~~~ ~ ~~~ <br />~ ^~-~- <br />Frederick B. Ollett, III <br />City Controller <br />Attachments <br />_ a <br />^q~9v~.~Jan~,~'n~'i:1 ~7. gib,°?~>'~ <br />C-Y! y 1iLo"'.: 7s~i~n~.'~i'. Su~3^..Jy ~a~. <br />