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REGULAR MEETING <br />NOVEMBER 24, 2003 <br />Councilmember King, Chairperson, Community and Economic Development Committee, reported <br />that this committee held a Public Hearing on this bill this afternoon and voted to send it to the full <br />Council with a favorable recommendation. <br />Mr. Don Inks, Director, Economic Development, 12th Floor, County -City Building, South Bend, <br />Indiana, made the presentation for this bill. <br />Mr. Inks stated that this Resolution authorizes the issuance of Redevelopment Bonds in the South <br />Bend Central Development Area. The Redevelopment Commission has determined that the bonds <br />are not to exceed twenty -two million dollars ($22,000,000.00). Mr. Inks noted that the bonds will <br />cover a number of parking improvements in the downtown area and some commitments under <br />Development Agreements with Environmental Health Labs and the Studebaker Museum. <br />Mayor Steve Luecke stated that some members of the Council have raised concerns that the City does <br />not have final construction numbers in for the Studebaker Museum and he wanted to enter a letter <br />to be part of the official record of this evening's meeting stating his commitment to the Council that <br />the City will not spend any bond proceed dollars for construction of the Studebaker Museum until <br />it can be shown that bids have been received to show that the project will be able to come in on <br />budget. Mayor Luecke presented the following letter for Council consideration and asked for their <br />favorable action. <br />November 24, 2003 <br />President Karen White <br />South Bend Common Council <br />4th Floor, County -City Building <br />South Bend, Indiana 46601 <br />Dear Karen: <br />Concerns have been raised by Councilmembers about not having final construction <br />costs for the Studebaker National Museum. In order to provide assurance that funds <br />will be sufficient for this project, we will return to Council after bids have been <br />received. I commit that we will not spend any of the proceeds of the bond authorized <br />by Bill No. 03 -119 for construction of the Studebaker National Museum until we <br />have been able to show you that we are within budget for our dollars. <br />This will allow us to be able to proceed with construction in a timely manner, rather <br />than have to issue a new bond at that time. It will also allow you final review of the <br />project so that you can be assured of its viability. I ask for the Council's favorable <br />action on this Bill tonight. Thank you. <br />Sincerely, <br />s /Stephen J. Luecke, Mayor <br />City of South Bend <br />A Public Hearing was held on the Resolution at this time. <br />There was no one present wishing to speak to the Council either in favor of or in opposition to this <br />Resolution. <br />Councilmember Varner advised that the inclusion of the Studebaker Museum in this particular bond <br />issue for parking related issues appears to be like a fish out of water. He noted that the Studebaker <br />Museum does not have a parking issue but it has simply been rolled into this bond issue. He stated <br />that he would guess that that was done to avoid the risk of its going on its own and perhaps being <br />-22- <br />