12-09-13 Common Council Meeting Minutes

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REGULAR MEETING DECEMBER 9, 2013 seating, a deck overlooking the river, and a patio. We see this venture as inviting to the residents of the City of South Bend as well as a believed draw for the patrons in Mishawaka and other neighboring municipalities. A custom designed facility featuring a wine-making area, bar, kitchen, private event room(s), and works from local art enthusiasts will add a tasteful and elegant touch to our growing district and eastern gateway. Please consider adding our location to your district as we feel offering a full bar is critical and essential to our success. Thank you for the opportunity to present our favorable position for this proposed expansion of the Municipal Riverfront Development District. This expansion would be a major motivation in the pursuit of our venture. Best, Daniel L. Gates, Jr; Michael Lochmondy. Aaron Perri, Downtown South Bend, 217 S. Michigan Street, South Bend, Indiana, I would like to add that this has been a successful piece of legislation in that perspective in downtown South Bend. I chair the River Front Development District licensing committee and it has been a very smooth process and thank you for your support of that. First time around and thank you for your consideration this time around. Councilmember Henry Davis Jr., stated that he wanted to make clear that he understands that people want South Bend to being hip & cool but not to forget that South Bend needs to be a family environment as well. There being no one else present wishing to speak to the Council either in favor of or in opposition to this bill, Councilmember Dieter made a motion for favorable recommendation to full Council concerning this bill. Councilmember Varner seconded the motion which carried by a voice vote of eight (8) ayes. BILL NO. 67-13 PUBLIC HEARING ON A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, SETTING THE FINAL INTERFUND LOAN AMORTIZATION SCHEDULES FOR MAJOR MOVES FUND 412 ADVANCES TO THE NORTHEAST RESIDENTIAL TIF FUND 436 IN CONNECTION WITH THE EDDY STREET COMMONS AND TRIANGLE DEVELOPMENT PROJECTS Councilmember Oliver Davis, Chairperson, Public Works and Property Vacation Committee, reported that this committee met on this bill this afternoon and voted to send it to the full Council with a favorable recommendation. th John Murphy, Deputy City Controller, 12 Floor County-City Building, 227 W. Jefferson Blvd., South Bend, Indiana, made the presentation for this bill. Mr. Murphy advised that this bill would allow for the revision of Major Moves Fund Interfund Loan Amortization Schedules with the Northeast Residential TIF Fund for the Eddy Street Commons and Triangle Development projects. The costs paid by Major Moves are being repaid by the Northeast Residential TIF Fund according to amortization schedules and these schedules were based on maximum allowable expenditure limits. The final costs paid by Major Moves are now know and were $3,942,529 for Eddy Street Commons and $1,513,920 for the Triangle Development. Therefore, City Administration desires to amend the inter fund loan amortization schedules currently in effect to reflect the actual amounts paid. The interest rate charged and other terms have not changed. Mr. Murphy asked for the Council favorable consideration. This being the time heretofore set for the Public Hearing on the above bill, proponents and opponents were given an opportunity to be heard. There being no one present wishing to speak to the Council either in favor of or in opposition to this bill, Councilmember Dieter made a motion for favorable recommendation to full Council concerning this bill as substituted, Councilmember Oliver Davis seconded the motion which carried by a voice vote of eight (8) ayes. 12