12-08-08 Common Council Mintues - Laserfiche WebLink

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REGULAR MEETINGDECEMBER 8, 2008 on the part of the City, first a commitment to finish clearing the approximately 80 acres site at Sample Street and finish remediation activities there. They believe that they can meet that commitment and obviously cleared much of the land already, there is another building to acquire and clear there that is on the City’s agenda and do have funding sources in place to do that. Secondly, it call for the City to invest an additional $6 million dollars in the site for infrastructure and preparation of the site to make it ready to capture companies as they grow out of Innovation Park and to keep those companies here in South Bend for the benefit of the Community. th Don Inks, Director, Community & Economic Development, 12 Floor County-City Building, South Bend, Indiana, stated that the agreement is for four (4) years, so it would end December 31, 2012. It does allow the City to potentially collect tax increment financing related to real and personal property for the project. The agreement also requires the construction of a 54,000 square foot business incubator facility and that would be constructed by the University of Notre Dame. The City is also required to make annual reports, those reports would start March 2010, and the first one would be for the calendar year 2009. Those annual reports would include information on the number of jobs, total employment, payroll for all businesses in the park, the nature and extent of any technology transfer and a few other things all related to determining the progress that the city is making on the Technology Park. David Brenner, Director, Innovation Park, 217 S. Michigan Street, South Bend, Indiana, stated that they have applied for non-profit status and have been told that it would take anywhere between six and eight months to actually hear from the IRS. Mayor Luecke stated that the Studebaker Corporate Headquarters building is expected to remain. He stated that the Historic Landmarks Foundation has taken control of that property and have been working with a developer for some alternate uses for that building. He stated that they are still hopeful although there have been some delays in moving forward on that at this point. A Public Hearing was held on the Resolution at this time. There being no one present wishing to speak to the Council either in favor of or in opposition to this Resolution, Councilmember Puzzello 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 eight (8) ayes. BILLS – FIRST READING BILL NO. 83-08 FIRST READING ON A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CLOSING WATER LEAK INSURANCE FUND NO. 644, TRANSFERRING THE BALANCE TO WATER WORKS OPERATING FUND NO. 620, AND REPEALING ARTICLE 6 OF CHAPTER 17 OF THE SOUTH BEND MUNICIPAL CODE This bill had first reading. Councilmember Puzzello made a motion to refer this bill to the Personnel & Finance Committee and set it for Public Hearing and Third Reading on January 12, 2009. Councilmember Dieter seconded the motion which carried by a voice vote of eight (8) ayes. 14