02/15/93 Board of Public Works Minutes

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053 REGULAR MEETING FEBRUARY 15, 1993 RESOLUTION NO. 11-1993. �~ RESOLUTION OF THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND INDIANA APPROVING THE EXECUTION OF A TERMINATION OF SUBLEASE WHEREAS, the City of South Bend, Indiana, acting by and through its Board of Public Works, (the "City") previously entered into a sublease between the South Bend Redevelopment Commission (the "Commission") and the City dated as of April 29, 1990, (referred to herein as the "Sublease"), pursuant to which the Commission will lease certain land to the City; and WHEREAS, the Commission and City desire to approve and execute a Termination of the Sublease, a copy of which is attached hereto as Exhibit "A". NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS: 1. The Sublease shall be and hereby is terminated, as set forth in Exhibit "A" hereto. 2. The members of the Commission are hereby authorized and directed to execute the Termination of Sublease attached hereto as Exhibit "A". 3. This resolution shall be in full force and effect after its adoption. ADOPTED at a meeting of the Board of Public Works of the City of South Bend, Indiana held on February 15, 1993, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. CITY OF SOUTH BEND BOARD OF PUBLIC WORKS s/John E. Leszczynski s/James R. Caldwell s/Mary Hall Mueller ATTEST: s/Sandra M. Parmerlee, Clerk APPROVE AGREEMENT - SOUTH BEND CENTRAL DEVELOPMENT AREA REVOLVING LOAN FUND ACTIVITY - DEPARTMENT OF ECONOMIC DEVELOPMENT Mr. Leszczynski advised that the Board is in receipt of an Agreement between the City, by the Board of Public Works, on behalf of the Department of Economic Development, and Center City Associates. It is noted that the purpose of this Agreement is to establish the guidelines for the continuation of the CCA Commercial Revolving Loan Fund. Ms. Marcia Townsend, Department of Economic Development, was present and informed members of the Board that the funding for this loan fund was provided under previous Contracts approved by the Board which have all expired. This Agreement covers all funds received under those Contracts and all income derived from the use of those monies or the assets acquired by use of such funds,.including loan repayments and interest earned. No new money will be utilized at this time. Mr. Caldwell made a motion that the Agreement be approved and executed. Mrs. Mueller seconded the motion which carried.