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souTI1 U _.: = rd �\ PEACE\ S f 1865 OFFICE OF THE CITY CLERK KAREEMAH FOWLER, CITY CLERK COMMUNITY INVESTMENT OCTOBER 28, 2019 4:00 P.M. Committee Members Present: Gavin Ferlic, Sharon McBride, Dr. Oliver Davis Committee Members Absent: Regina Williams-Preston Other Council Present: Tim Scott,Jo M. Broden, John Voorde, Karen White Jake Teshka Other Council Absent: None Others Present: Lisa Horton, Dawn Jones, Bob Palmer Presenters: Jitin Kain Agenda: Bill No. 19-67-Approving a Lease Between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission Relating to the Double Tracking Commuter Rail Bill No. 19-67- Approving a Lease Between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission Relating to the Double Tracking Commuter Rail Jitin Kain, Interim Director of the Department of Community Investment with offices on the 14th floor of this building stated, I have a brief presentation. As Council is aware, the double tracking project is adding about sixteen-point nine(16.9)miles of second(2nd)track in portions of the route between South Bend and Chicago, and the project is expected to have enormous impact on the region including, improved reliability, faster travel times, increased service, increased safety and enhanced economic benefits. The City Council passed a resolution in 2016 in support of this project. Subsequently, the Redevelopment Commission and the Saint Joseph County Commissioner signed an agreement in May of 2017,which stipulated that the County would cover the cost of the double tracking project, which is estimated at $18 million dollars. The City would cover the cost of relocating the station, which was expected to be $25 million dollars at the time. These two (2) projects collectively would shave off a big chunk of the travel time between South Bend and Chicago, bringing the travel time closer to ninety (90) minutes. More recently, the County has approached the City and asked to redo this original MOU in 2017 and asked the City to split the cost of double tracking and by doing this, the City not have the obligation of the $25 million-dollar relocation expense of moving the station.The overall project for the County remains at$18.25 million. They've asked the City tot split this to $9.125 million in bonds that we are here today asking for your approval. These are TIF bonds and I will be inviting a couple of other INTEGRITY' SERVICE'ACCESSIBILITY JENNIFER M.COFFMAN BIANCA L.TIRADO JOSEPH R.MOLNAR CHIEF DEPUTY/DIRECTOR OF OPERATIONS DEPUTY/DIRECTOR OF POLICY ORDINANCE VIOLATION CLERK EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 455 County-City Building 1227 W.Jefferson Blvd.I South Bend,Indiana 46601 I p 574.235.9221 I f 574.235.9173 I www.southbendin.gov