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REGULAR MEETING AUGUST 25, 2003 <br />square feet the City meets that requirement. They also wanted to see that there had been extensive <br />effort by the local community to try other approaches to redevelop the property and the City has been <br />working to bring new investment to that site for a number of years. The state wanted to see a local <br />match for the state dollars in terms of the work that is done at the site and the City will be providing <br />that through a pledge of the tax increment finance revenue that is generated on that site back into the <br />project as well as potentially some COIT dollars to go into the project. Mayor Luecke thanked the <br />Council for their support in this effort to bring new retail opportunities to South Bend. <br />Councilmember Kelly made a motion to consider the substitute version of this bill as heard in the <br />Community and Economic Development Committee meeting this afternoon. Councilmember <br />Coleman seconded the motion which carried by a voice vote of nine (9) ayes. <br />This being the time heretofore set for the Public Hearing on the above bill, proponents and <br />opponents were given an opportunity to be heard. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to this <br />bill, Councilmember Aranowski made a motion for favorable recommendation to full Council <br />concerning this bill. Councilmember Coleman seconded the motion which carried by a voice vote <br />of nine (9) ayes. <br />BILL NO. 62 -03 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />AUTHORIZING THE CITY OF SOUTH BEND, INDIANA, <br />TO ISSUE ITS "ECONOMIC DEVELOPMENT REVENUE <br />BONDS OF 2003 (KITE CAPITAL, LLC/ERSKINE <br />VILLAGE PROJECT)" IN AN AGGREGATE PRINCIPAL <br />AMOUNT NOT TO EXCEED SIX MILLION AND 00 /100 <br />DOLLARS ($6,000,000.00) AND APPROVING AND <br />AUTHORIZING OTHER ACTIONS IN RESPECT <br />THERETO <br />Councilmember Coleman made a motion to postpone the Public Hearing on this bill until the <br />September 8, 2003 meeting of the Council at the request of the Petitioner. Councilmember Varner <br />seconded the motion which carried by a voice vote of nine (9) ayes. <br />BILL NO. 63 -03 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />APPROPRIATING THE PROCEEDS DERIVED FROM <br />THE INDIANA DEVELOPMENT GRANT FUND IN THE <br />AMOUNT OF $1,050,000 WITHIN THE STATE GRANTS <br />FUND (FUND 210) FOR THE PURPOSE OF FINANCING <br />THE DEVELOPMENT COSTS CONNECTED WITH THE <br />TJX/AJ WRIGHT DISTRIBUTION CENTER PROJECT <br />Councilmember King, Chairperson, Community and Economic Development Committee, reported <br />that 4hia hold . D „hl;- T-T-- -- -- a1-:.. 1-:11 Q1-_- _II---- --- ___ -1 --- — A _ - - I . . ” 1 11 <br />