HomeMy WebLinkAbout3C Report of South Bend EDC re St. Joseph Public LIbrary ProjectREPORT OF THE SOUTH BEND
ECONOMIC DEVELOPMENT COMMISSION CONCERNING
THE PROPOSED FINANCING OF ECONOMIC DEVELOPMENT
FACILITIES FOR THE ST. JOSEPH COUNTY PUBLIC LIBRARY
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 tax increment revenue bonds to the St.
Joseph County Public Library, a public library and municipal corporation of the State of Indiana
(the “Public Library”), 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 (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 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 Eight Hundred Thousand
Dollars ($4,800,000).
D. The Commission estimates that the Project will result in the creation of
five (5) to ten (10) full-time jobs in the City, with an average payroll and benefits of
approximately $30,000 annually per job and that the Project will result in the improved
opportunities for community events and learning and improve the position of the Public
Library as a vital educational resource 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 26th day of November, 2018.
President, South Bend Economic
Development Commission
ATTEST:
Secretary, South Bend Economic
Development Commission
Exhibit A
The Project consists of the construction, equipping, furnishing of a new approximately
38,000 square foot building for use as a community and education center to provide new and
flexible spaces for community meeting and training, events and conferences and a larger
auditorium to meet increasing demand for program space and allow for a more diverse range of
programs and community events and any and all projects and improvements related thereto to be
located adjacent to the Main Branch of the Public Library located at 304 South Main Street in the
City.
DMS 13585530v1