08-25-03 Council Meeting Minutes

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