Determining after Investigation, that the Lease/Purchase Acquisition of a Stadium Facility is Needed

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RESOLUTION NO. 1276 - gs A RESOLUTION OF THE SOUTH BEND COMMON COUNCIL DETERMINING, AFTER INVESTIGATION, THAT THE LEASE/ PURCHASE ACQUISITION OF A STADIUM FACILITY IS NEEDED STATEMENT OF PURPOSE AND INTENT: The Board of Park Commissioners of the Park District of the City of South Bend, Indiana (Board) , on November 12, 1985, received a petition signed by fifty ( 50) taxpayers of the Park District of the City of South Bend , requesting that the Board acquire a stadium facility by entering into a Lease/Purchase Agreement with Security Pacific Leasing Corporation of San Francisco, California, for a term of ten (10) years , with the cost of land acquisition and construction of said facility by said corporation not to exceed Five Million Five Hundred Thousand Dollars ( $5, 500, 000.00. ) The Board also received, on November 12, 1985, a certificate of the St. Joseph County Auditor, certifying that the verifier of the petition and the signatories of the petition are taxpayers of property located within the corporate boundaries of the City of South Bend . Indiana Code 36-1-10-7( 2) requires, prior to the Board of Park Commissioners entering into a lease agreement for a structure, that the Common Council, after investigation, determine that the structure is needed . NOW, THEREFORE, BE IT RESOLVED by the South Bend Common Council , as follows : SECTION I . The Common Council has conducted a public hearing on this resolution and has heard persons desiring to speak in favor of and opposed to the adoption of this resolution. SECTION II . The Common Council recognizes that the Board of Park Commissioners of the Park District of the City of South Bend , the South Bend Redevelopment Commission, the Area Plan Commission of St. Joseph County , and the South Bend Common Council have previously taken actions which support the acquisition of property and/or the development of plans and specifications for the proposed stadium facility, to be known as the Stanley Coveleski Regional Stadium. SECTION III . The Common Council finds that the acquisition by lease/purchase of a stadium facility to be known as the Stanley Coveleski Regional Stadium would be of substantial economic benefit to the City and the surrounding community by attracting additional tourists and visitors to the downtown area of the City by redeveloping land which will cause activities which would create jobs and additional economic benefit to the City ; and by creating additional business opportunities from the previously mentioned economic benefits . SECTION IV. The Common Council also finds that the Stanley Coveleski Regional Stadium would be used not only as the home location for a Class A Midwest league professional baseball team but also as the site for other athletic events, both professional and amateur, such as baseball, softball, soccer, football, and other recreational and entertainment events . SECTION V. The Common Council further finds that there is a lack of a stadium facility with an estimated capacity of five thousand (5, 000) seats and that there is a need for a stadium facility in that size range to provide for a substantial diversity of uses, including those found in the above sections .