03-26-01 Council Meeting Minutes

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REGULAR MEETING MARCH 26, 2001 The foregoing was passed and adopted by the Common Council this 26th day of March, 2001. COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA s /Charlotte Pfeifer Member, Common Council Councilmember Kelly reported that the Community and Economic Development Committee met on this bill and recommends this Resolution to the Council favorably. Mr. Kenneth P. Fedder, Attorney at Law, 53600 North Ironwood Drive, South Bend, Indiana, made the presentation for this Resolution. Mr. Fedder informed the Council that he is the attorney for the South Bend Economic Development Commission. The Commission has accepted an application for a $5 million dollar revenue bond and passed an Inducement Resolution for Imagineering Enterprises, Inc. the lessee of the facilities. They presently operate at 1302 Sample Street and employ forty -six (46) individuals with a payroll in excess of $1.6 million dollars. Imagineering anticipates that over the next three years, this project, when completed, will double that employment. The company plans to construct a new facility at 4521 Nimtz Parkway in the Blackthorn Park . The proposed project includes a six thousand (6,000) square foot corporate office facility and a fifty seven thousand six hundred (57,600) square foot metal finishing plant on an 8.67 acre plot of land. The existing facility will be offered for sale and will continue to be used in the community. Jobs will be retained and there will be additional employment. Mr. Fedder noted that these are not general obligation bonds of the City of South Bend and there is no taxpayer liability. These are limited special obligation bonds and payment for the project comes from the project itself. Mr. Fedder also noted that a funding ordinance for the issuance of revenue bonds which will be sold and the money lent to the applicant for construction of the new facility, will come before the Council in the near future. A Public Hearing was held on the Resolution at this time. There was no one present wishing to speak to the Council either in favor of or in opposition to this Resolution. In response to Councilmember Aranowski's inquiry, he was advised that Imagineering's building is in the Enterprise Zone. He noted that this is a strong commitment by Imagineering to move their facilities from an Enterprise Zone to the Blackthorn Development Area and paying property taxes and inventory tax as well as making a commitment to double employment. Councilmember Aranowski thanked Imagineering officials for staying in South Bend. Councilmember Coleman made a motion to adopt this Resolution. Councilmember Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of nine (9) ayes. RESOLUTION NO. 2978-01 A RESOLUTION AUTHORIZING THE TEMPORARY TRANSFER OF IDLE FUNDS FROM THE SEWAGE WORKS CAPITAL FUND ( #642) TO THE PARKS MAINTENANCE FUND ( #201), WITHIN THE CIVIL CITY OF SOUTH BEND, INDIANA WHEREAS, it is necessary to provide funds for the Park Maintenance Fund ( #201) prior to the receipt of taxes in the year 2001 in order to meet the current operating expenses of the City Parks Department provided for in the budget adopted for the year 2001. WHEREAS, monies are on deposit to the credit of the City, specifically, the Sewage Works Fund ( #642), which can be temporarily transferred to the Park Maintenance Fund. WHEREAS, Indiana Code §36 -1 -8 -4 authorizes the Common Council of the Civil City of South Bend by Resolution adopted by such Council, to advance and transfer to a depleted fund from