Appropriating the Fixed sum of $150,000 Plus up to an Addtional $125,000 from Economic Development Income Tax with the Potawatomi Zoological Society

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ORDINANCE NO. MM— ( y AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING THE FIXED SUM OF $150,000.00 PLUS UP TO AN ADDITIONAL $125,000.00 FROM ECONOMIC DEVELOPMENT INCOME TAX (EDIT) FUND #408 FORCAPITAL OBLIGATIONS PURSUANT TO AGREEMENT WITH THE POTAWATOMI ZOOLOGICAL SOCIETY STATEMENT OF PURPOSE AND INTENT The City of South Bend through its Board of Park Commissioners entered into a Lease and Management Agreement (the Agreement) with the Potawatomi Zoological Society (PZS), effective January 1, 2014, by which the City granted to PZS all rights to manage and operate the Potawatomi Zoo for a period of five years. Among the obligations of the City of South Bend pursuant to the Agreement at Section 6.4 is to pay to PZS in calendar year 2014 the fixed, initial sum of One Hundred Fifty Thousand Dollars ($150,000) for capital improvements to the Potawatomi Zoo Premises. Additionally, at Section 6.5 of the Agreement, the City has agreed to share with PZS the cost to resurface and/or strip the existing parking lot and create an additional parking area in 2014 for the benefit of Zoo visitors as well as Potawatomi Park visitors. The net City share of the cost is Seventy Five Thousand Dollars ($75,000. Because the City's financial obligation to the PZS under the Agreement was unknown when the City's 2014 Budget was approved, it is necessary at this time to appropriate the necessary capital funds for payment to PZS, and for parking lot improvement costs in 2014 per the terms of the Agreement. This ordinance accomplishes that purpose. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. The sum of One Hundred Fifty Thousand Dollars ($150,000) be and hereby is appropriated from and set aside within Economic Development Income Tax (EDIT) Fund 4408 for the purpose of payment to the Potawatomi Zoological Society (PZS) in calendar year 2014 for capital improvements to the Potawatomi Zoo premises pursuant to the terms and obligations of the Board of Park Commissioners' Lease and Management Agreement (the Agreement) with PZS. SECTION II. The additional sum of up to One Hundred Twenty Five Thousand Dollars ($125,000) be and hereby is appropriated from and set aside within Economic Development Income Tax (EDIT) Fund #408 for the purpose of improvements to and new surface of the parking lot in Potawatomi Park pursuant to the terms of the Agreement with PZS. The City shall pay all costs and expenses to complete the parking lot improvements and then shall seek reimbursement from PZS for its share of costs not to exceed Fifty Thousand Dollars ($50,000).