Declaring Certain Areas within the City as a Professional Sports Development Area

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RESOLUTION NO. r�5 I M 7 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND DECLARING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS THE COLLEGE FOOTBALL HALL OF FAME, CENTURY CENTER, COVELESKI STADIUM, MORRIS CIVIC AUDITORIUM /PALAIS BALLROOM AND THE STUDEBAKER NATIONAL MUSEUM AS A PROFESSIONAL SPORTS DEVELOPMENT AREA STATEMENT OF PURPOSE AND INTENT WHEREAS, the Common Council (the "Council ") is the legislative body of the City of South Bend, Indiana; and WHEREAS, the Council finds that the City of South Bend has a Professional Sports Franchise, known as the "South Bend Silverhawks," which plays the majority of its games in a facility owned by the City known as "Coveleski Stadium," and WHEREAS, the Council, pursuant to Indiana Code 36 -7 -31.3, as amended (the "Act "), finds that it has studied certain areas within South Bend hereby designated as the College Football Hall of Fame (more particularly described in Exhibit "A ") , Century Center (more particularly described in Exhibit "B "), Stanley Coveleski Stadium (more particularly described in Exhibit "C "), Morris Civic Auditorium /Palais Royale Ballroom (more particularly described in Exhibit "D ") , and the Studebaker National Museum (more particularly described at "Exhibit E") with said Exhibits "A ", "B ", "C ", "D" and "E" being hereby attached to this Resolution, incorporated by reference and made a part thereof; and finds the areas to meet the requirements of facilities qualified to be part of a Professional Sports Development Area; and WHEREAS, the Council finds that the facilities owned by the City of South Bend in the above described area are either used by the professional sports franchise or for convention and tourism related events; and WHEREAS, upon such studies being made, the Council finds that the capital improvements undertaken in the above - described areas benefit the public health and welfare, are of public utility and protect or increase state and local tax bases and tax revenues; and WHEREAS, the Council finds that in order to provide special benefits to taxpayers by promoting economic development that is of public use and benefit, it is necessary and desirable to declare the areas herein described as the South Bend Professional Sports Development Area (the "Tax Area "). NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana as follows: SECTION I. The Common Council hereby finds that the facilities in the Tax Area are (a) facilities at which a professional sports franchise plays the majority of its home games or in which convention or tourism related events are held; (b) do benefit the public health and welfare and are of public utility and benefit; and (c) do protect or increase state and local tax bases and tax revenues. The Tax Area described herein is hereby designated, declared and determined to be a Professional Sports Development Area under the Act. SECTION II. The Common Council hereby finds that the Covered Taxes, as defined in the Act, Section 4, (the "Covered