Loading...
HomeMy WebLinkAboutRecommending Thresholds & Criteria be Developed When Public Tax Dollars Assist in Economic Developoment with Private SectorRESOLUTION 4151 -12 Passed by the Common Council of the City of South Bend, Indiana February 13, 12 20 Attest: Presented by me to the Mayor of the City of South Bend, Indiana February 14, 20 12 City Clerk President of Common Council Approved and signed by me r'e'b'-Pt2V /y 20-4,2m City Clerk RESOLUTION `-C l r ( — Bill No. 12- 12 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, RECOMMENDING THAT THRESHOLDS AND CRITERA BE DEVELOPED WHEN PUBLIC TAX DOLLARS ARE TO BE INVOLVED TO ASSIST IN LEVERAGING ECONOMIC DEVELOPMENT WITH THE PRIVATE SECTOR Gh" last Fall, the South Bend Common Council adopted Resolution No. 4127 -11, which encouraged collaboration between the City Administration, the Redevelopment Commission and the Common Council in the interest of discussing possible options to assist in attracting private investors to provide equity invest for the rehabilitation of the Chase Tower located at 211 -213 West Washington in the heart of downtown South Bend; and (Aar, the Council further notes that Bill No. 81 -11 which proposes financial assistance for the Chase Tower is pending in the Council's Community and Economic Development Committee and is scheduled for public hearing on February 27, 2012; and GA)" Indiana state law sets forth the executive authority and the primary day -to -day activities with the Mayor under Indiana Code § 36- 4 -4 -3; and the legislative authority of the city is with the Common Council as set forth in Indiana Code § 36- 4 -4 -4; and Qf)" the Council acknowledges that "City Plan" was adopted when Resolution No. 3657 -06 was adopted which addressed among other things an "Implementation Action Plan" information on expanding economic opportunities; ensuring quality designs; planning and analysis which are in the best interests of the city. ga, &ALMAM, Term 4y do WOMM&A � way as follows: Section I. As discussions continue on what role, if any, the City of South Bend should play with regard to potentially providing financial assistance to foster growth in downtown South Bend, discussions of the following criteria or similar thresholds may be in the best interests of the City: 1. Whether a dollar amount threshold should be established and upon that amount being set, that additional criteria be used to assist in the evaluation process for all potential developers on a specific project; 2. Identification of potential revenue stream(s) which may be under consideration for assistance with the current balances of each, and the proposed uses (short and long -term) for each being listed; 3. Analysis of the potential design/redesign, construction/reconstruction, operation, management, or financing of the cost of the project; 4. Detailed identification of projection costs and the respective responsibilities of all parties in any public - private partnership meeting the dollar threshold addressed in ¶ 1; 5. Discussion of retaining any percentage of revenues received in the operation and management; Resolution - Page 2 8. Discussion of any return on investment to the city; 9. Discussion of requirements of performance bonds; 10. Discussion of the applicability of common construction wages. Section II. It is believed that if baseline criteria are first established, then all potential developers would be treated fairly and equitably since a level playing field would be in place and notice of the guidelines would be available to all those wishing to be considered for assistance. Section III. This Resolution shall be in�forc�d eqt` from and after its adoption / by the Council and approval by the Mayor. Henry Davisor. 2 °° DistricVouncil Member 2002, 6y ae c�.aA Ted WOMMan ou�naL John \Voorde, City Clerk 9 *4"1 adt46 t 1 - �ru�w� , 200,24 Pete Buttigieg, ayor South Bend, Indiana eC� John oorde, City Clerk TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 12 -12 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, RECOMMENDING THAT THRESHOLDS AND CRITERIA BE DEVELOPED WHEN PUBLIC TAX DOLLARS ARE TO BE INVOLVED TO ASSIST IN LEVERAGING ECONOMIC DEVELOPMENT WITH THE PRIVATE SECTOR Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. This bill was heard by the Community & Economic Development Committee. Karen L. White Chairperson, Committee of the Whole Derek D. Dieter President City of South Bend Common Council 441 County -City Building . 227 W. Jefferson Blvd (574) 235 -9321 South Bend, Indiana 46601 -1830 Fax (574) 235 -9173 http://www.southbendin.gov ■ Processes used for awarding and monitoring TIF Oliver J. Davis ■ Whether TIFs were "being committed at the expense of neighborhood Sixth District priorities" Derek D. Dieter ' Recommendations for improvements so that there would be a "greater and At Large consistent return", improved communications; improved transparency, etc. ■ Working in "priority" areas in neighborhoods Gavin Ferlic ■ Forming policies to "minimize the possibility of favoritism ", etc. At Large In light of Bill No. 8 1 -11 being continued to the February 27th Council meeting at Karen L. White the request of Mayor Buttigieg, we thought that having discussions on the it At Large addressed in the attached resolution would prove helpful. ems We look fo and t discussing this with you further. WE Off vi 6th St oun Memb r "a Distri ouncil Member JOHN �� 3 may c✓,.. Attachment February 8, 2012 Oliver J. Davis Vice- President The South Bend Common Council 4"' Floor County -City Building Karen L. White South Bend, Indiana 46601 Chairperson, Committee of the Whole Re: Proposed Resolution to Assist in Leveraging Private Sector Economic Tim Scott Development First District Dear Council Members: Henry Davis, Jr. Second District We are sponsoring the attached resolution in the interest of promoting discussions Valerie Schey on meaningful methods and criteria as to when city dollars may be appropriate to Third District stri be used to help leverage economic development with the private sector. Fred Ferlic In October 2011, the Report of the Task Force on Baltimore City Public /Private Fourth District Development Financing Efforts was published. In addition to recommendations for the City of Baltimore, it highlighted "best practices" from other communities David Varner which focused on: Fifth District ■ Processes used for awarding and monitoring TIF Oliver J. Davis ■ Whether TIFs were "being committed at the expense of neighborhood Sixth District priorities" Derek D. Dieter ' Recommendations for improvements so that there would be a "greater and At Large consistent return", improved communications; improved transparency, etc. ■ Working in "priority" areas in neighborhoods Gavin Ferlic ■ Forming policies to "minimize the possibility of favoritism ", etc. At Large In light of Bill No. 8 1 -11 being continued to the February 27th Council meeting at Karen L. White the request of Mayor Buttigieg, we thought that having discussions on the it At Large addressed in the attached resolution would prove helpful. ems We look fo and t discussing this with you further. WE Off vi 6th St oun Memb r "a Distri ouncil Member JOHN �� 3 may c✓,.. Attachment