04/22/91 Board of Public Works Minutes

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1 REGULAR MEETING APRIL 22. 1991 APPROVE FINANCING AGREEMENT AND ADDENDUM TO AGREEMENT - IBM Mrs. DeClercq advised that the Board is in receipt of a Financing Agreement and Addendum to Agreement from IBM. Ms. Humphreys noted that this should be the last such Financing Agreement and Addendum to Agreement to come before the Board. Board Attorney Jenny Pitts Manier noted that these agreements relate to the monthly integrated services for installation of the new computer system. Ms. Humphreys made a motion that the Financing Agreement and Addendum to Agreement as submitted be approved and executed. Mrs. DeClercq seconded the motion which carried. APPROVE COMMUNITY DEVELOPMENT CONTRACTS/ADDENDUM The following Community Development Contracts and Addendum were presented to the Board for approval: LA SALLE PARK DISTRICT COUNCIL, INC. LA SALLE-FILLMORE NEIGHBORHOOD CENTER The targeted goal for this activity is for the Center to be open a portion of each day during the "transition" period from January 1, 1991 through March 31, 1991, for public access to the Center and the services it provides. The total cost of this activity shall not exceed $2,520.00. DEPARTMENT OF ECONOMIC DEVELOPMENT CENTER CITY ASSOCIATES SOUTH BEND CENTRAL DEVELOPMENT AREA REVOLVING LOAN FUND ACTIVITY This Agreement, between the City of South Bend, on behalf of the Department of Economic Development, and Center City Associates, establishes guidelines for the continuation of the CCA Commercial Revolving Loan Fund. It is noted that this Contract does not provide for new funds but governs the use of the revolving loan funds previously made available to CCA to loan and administer. ADDENDUM I LA SALLE PARK DISTRICT COUNCIL, INC. LA SALLE-FILLMORE NEIGHBORHOOD CENTER Addendum I indicates an extension of this Contract to April 30, 1991 and the addition of a cost category. Upon a motion made by Ms. Humphreys, seconded by Mrs. DeClercq and carried, the above referred to Contracts and Addendum were dpproved and executed. APPROVE ESCROW AGREEMENT - REMODELING OF NEW EOUIPMENT SERVICES BUILDING PROJECT Mrs. DeClercq advised that the Board is in receipt of an Escrow Agreement as submitted by L.L. Geans & Sons., 56535 Magnetic Drive, Mishawaka, Indiana. Board Attorney Jenny Pitts Manier advised that on February 4, 1991, the Board of Public Works approved and executed an Escrow Agreement with L.L. Geans and Society Bank in conjunction with the Remodeling of the New Equipment Services Building Project. That Agreement, however, was never executed by the bank. At this time, L.L. Geans and Society Bank have submitted an Escrow Agreement which basically is a modification of the original Agreement in that they added one paragraph allowing for a different investment vehicle for the escrow monies. Therefore, Ms. Humphreys made a motion that the Escrow Agreement as submitted be approved and executed. Mrs. DeClercq seconded the motion which carried.