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Committee Report <br /> HUMAN RESOURCES AND ECONOMIC DEVELOPMENT COMMITTEE <br /> To the Common Council of the City of South Bend: <br /> The November 22, 1993 , meeting of the Human Resources and <br /> Economic Development Committee was called to order by its <br /> Chairperson, Council Member Roland Kelly, at 4: 05 p.m. in <br /> the Council Informal Meeting Room. <br /> Persons in attendance included Council Members: Luecke, <br /> Washington, Kelly, Puzzello, Slavinskas, Coleman, Duda and <br /> Ladewski; Ann Kolata, Mikki Dobski, Mel Reed, Randolph <br /> Rompola, Don Porter, Kevin Horton, Dick Nussbaum, Beth <br /> Leonard, Marcia Townsend and Kathleen Cekanski-Farrand. <br /> The first item on the agenda was to review Bill No. 97-93 <br /> which would approve a lease for certain public improvements <br /> between the South Bend Redevelopment Authority and the South <br /> Bend Redevelopment Commission. Mr. Kevin Horton, with the <br /> assistance of charts, made the presentation. He noted that <br /> the overall bond would be $22 , 156, 480. 00. He noted that <br /> currently $496, 000. 00 from the City is used for the Century <br /> Center. Of this amount, $150, 000. 00 is from hotel/motel <br /> taxes and $50, 000. 00 from the South Bend School Corporation. <br /> Both of these amounts are on an annual basis. The net <br /> amount from CCIF Funds is $296, 000. 00. The lease would be <br /> extended from the year 2004 to the year 2014 . The <br /> replacement value of the Century Center is $30, 000, 000. 00. <br /> The remaining amount on the 1977 bond for the Century Center <br /> is $3 , 238, 538 . 00. The City has always committed to spend at <br /> least 700, 000. 00 to construct the tunnel and the landscaping <br /> relative to the Football Hall of Fame project. Mr. Horton <br /> noted that by combining the Century Center issue and the <br /> Football Hall. of Fame issue that it would minimize <br /> underwriter fees, attorney fees and related costs. He also <br /> noted that with a bigger issue there usually is a better <br /> rate. <br /> In response to.- a question raised by Council Member Puzzello <br /> regarding the role of the Common Council, Mr. Rompola of the <br /> Baker, Daniels Law Firm noted that Council approval is <br /> necessary of the lease which would be done on November 29th <br /> by ordinance. The Redevelopment Authority would not go <br /> forward until the Common Council then takes action in <br />