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REGULAR MEETING JUNE 10, 2002 <br />Councilmember Coleman made a motion to continue this bill until the July 22, 2002 meeting of the <br />Council at the request of the petitioner. Councilmember Varner seconded the motion which carried <br />by a voice vote of nine (9) ayes. <br />BILL NO. 19 -02 PUBLIC HEARING AMENDING THE ZONING <br />ORDINANCE FOR PROPERTY LOCATED AT 2733 <br />LINCOLNWAY WEST IN THE CITY OF SOUTH BEND, <br />INDIANA <br />Councilmember Coleman made a motion to continue this bill until the June 24, 2002 meeting of the <br />Council. Councilmember Varner seconded the motion which carried by a voice vote of nine (9) <br />ayes. <br />BILL NO. 40 -02 PUBLIC HEARING ON A BILL TO VACATE THE <br />FOLLOWING DESCRIBED PROPERTY: THE FIRST <br />EAST /WEST ALLEY SOUTH OF MISHAWAKA <br />AVENUE FROM 21ST STREET WEST TO THE FIRST <br />NORTH /SOUTH ALLEY; AND THE FIRST <br />NORTH /SOUTH ALLEY WEST OF 21ST STREET FROM <br />THE FIRST EAST /WEST ALLEY SOUTH OF <br />MISHAWAKA AVENUE <br />Councilmember Coleman made a motion to continue this bill until the June 24, 2002 meeting of the <br />Council at the request of the petitioner. Councilmember Aranowski seconded the motion which <br />carried by a voice vote of nine (9) ayes. <br />BILL NO. 29 -02 PUBLIC HEARING ON A BILL OF THE COMMON <br />COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, <br />ESTABLISHING A NEW REVOLVING FUND TO BE <br />KNOWN AS THE INDUSTRIAL DEVELOPMENT FUND <br />( #434) <br />Councilmember King reported that the Community and Economic Development Committee <br />conducted a Public Hearing on this bill this afternoon and voted to send it to the full Council with <br />a favorable recommendation. <br />Ms. Ann Kolata, Senior Redevelopment Specialist, Community & Economic Development, 12th <br />Floor, County -City Building, South Bend, Indiana, made the presentation for this bill. <br />Ms. Kolata advised that last year the Indiana legislature amended an existing law allowing for a <br />community revitalization enhancement district otherwise known as CREED to be established in <br />among other places St. Joseph County and South Bend. As part of that legislation, a fund needs to <br />be set up in which monies that are received as part of this financing mechanism are deposited. This <br />bill sets up that fund which will be Fund #434. The purpose of the CREED district is to capture <br />sales tax growth and income tax growth in an area that is designated as a CREED area. The money <br />that will be collected must be used in accordance with a plan that will be adopted for the area which <br />is to promote the revitalization and redevelopment of the Studebaker Oliver area and some <br />surrounding areas. Ms. Kolata noted that this bill is specifically for the creation of the fund. <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 />-2- <br />