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Filed in Clerk's Office <br /> r <br /> SpUT11.0,,::... ,r,.,„ NOV L O 2018 <br /> Lc, 1. <br /> U d <br /> PEACE ,. KAREEINAH FOWLER <br /> :, a CITY CLERK,SOUTH BEND,IN <br /> % X <br /> 1865 <br /> CITY OF SOUTH BEND <br /> COV V , AITY I \V-STV E\T <br /> November 20, 2018 <br /> Mr.Tim Scott,President <br /> South Bend Common Council <br /> 4th Floor County-City Building <br /> South Bend, IN 46601 <br /> RE: MOU with St.Joseph County Public Library and Community Foundation regarding the <br /> Community Education Center Project <br /> Dear President Scott: <br /> This resolution is for Common Council to consider the Memorandum of Understanding,which <br /> outlines the parties' various commitments for the Community Education Center Project. <br /> Of the roughly$18-20 million cost,the City would cover$4 million in net proceeds before 2022 <br /> and the Public Library and Community Foundation would cover the remaining balance of costs. <br /> The separately filled bond ordinance,which allows for up to$4.8 million including issuance costs <br /> and a debt reserve for credit enhancement,would fulfill the City's financial commitment. <br /> As part of the agreement,the Public Library has also agreed to consent to development on its <br /> parking lot parcel just south of the Main Library if certain criteria are met. <br /> Thank you for your consideration. Representatives from Community Investment,the Public <br /> Library,and the Community Foundation will attend the Committee and Council meetings to <br /> address any questions that you may have. Please do not hesitate to reach out in the meantime. <br /> Sincerely, <br /> i / <br /> James Mueller <br /> Executive Director <br /> Department of Community Investment <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Bvld. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />