HomeMy WebLinkAbout3a Report of South Bend EDC re Potawatomi Zoo ProjectREPORT OF THE SOUTH BEND
ECONOMIC DEVELOPMENT COMMISSION CONCERNING
THE PROPOSED FINANCING OF ECONOMIC DEVELOPMENT
FACILITIES FOR THE POTAWATOMI ZOOLOGICAL SOCIETY, INC.
The South Bend Economic Development Commission (the “Commission”) proposes to
recommend to the Common Council of the City of South Bend, Indiana (the “City”), that it
provide the proceeds of certain economic development revenue bonds to the Potawatomi
Zoological Society, Inc., an Indiana non-profit corporation (the “Corporation”), for the financing
of certain economic development facilities in the City.
In connection therewith, the Commission hereby reports as follows:
A. The proposed economic development facilities consist of the Project set
forth in Exhibit A hereto (collectively, the “Project”).
B. The Commission estimates there are no public works or services,
including public ways, schools, water, sewer, street lights and fire protection, which will
be made necessary or desirable by the Project, because any such works or services
already exist or will be provided by the Corporation or other parties.
C. The Commission estimates that the total costs of the Project for which
funding is not otherwise available will not exceed Four Million Two Hundred Five
Thousand Dollars ($4,205,000).
D. The Commission estimates that the Project will result in the retention of at
least 36 full-time jobs and 78 seasonal jobs in the City at the Zoo, having an aggregate
payroll and benefits of approximately $1,877,531 per year and that the Project will result
in the improvement of the Zoo as a vital cultural and recreational community asset in the
City.
E. The Commission has determined that the Project does not result in any
adverse competitive effects and will only improve opportunities for continued economic
development in the City.
Adopted this 13th day of September, 2018.
President, South Bend Economic
Development Commission
ATTEST:
Secretary, South Bend Economic
Development Commission
Exhibit A
The Project consists of the construction, renovation, equipping, furnishing and improving
of the Potawatomi Zoo, located at 500 South Greenlawn Avenue within the City (the “Zoo”),
including, without limitation, (i) the construction, equipping and furnishing of a new, modern
visitor-centric front entrance building that will include a gift shop, universally accessible
gathering plaza, public restrooms and a separate, more secure entrance for field trips and group
visits and that will double the Zoo’s education space, allowing for more classes, camps and
educational experiences and (ii) completion of various deferred maintenance improvements
throughout the Zoo which will enhance the safety of visitors to the Zoo, staff and animals and
necessary to maintain the Zoo’s accreditation, including, without limitation, repair, replacement,
renovation or enhancement of guest pathways and parking lots, animal holding and exhibit areas,
HVAC improvements, roofs, patron fencing, animal containment fencing and exhibitory, and
electrical work throughout the Zoo.
DMS 13187138v2