My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2. Minutes 8/6/10 Meeting
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2010
>
08-20-10 Packet
>
2. Minutes 8/6/10 Meeting
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/18/2010 9:06:27 AM
Creation date
8/18/2010 9:06:26 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
South Bend Redevelopment Commission <br />Regular Meeting -August 6, 2010 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(1) Approval of Loan Agreement, Promissory <br />Note and Grant Agreement for <br />environmental remediation at 1100 Prairie <br />Avenue. <br />Ms. Kolata noted that at the July 23 meeting <br />the Commission approved a loan and grant <br />from the citys enviromnental revolving loan <br />fund for environmental remediation at the <br />Studebaker foundry. This is the final <br />approval of the Loan Agreement, the <br />Promissory Note and the Grant Agreement <br />with the City of South Bend. It provides for <br />a grant of $160,000 and a loan not to exceed <br />$500,000. The loan is a 10-year loan at 0% <br />interest with no pa}nnents for the first five <br />years. The reasoning behind that is that EPA <br />supplied the funds for the loan fund. The <br />goal is to spend all the money, not get any of <br />it repaid, then close out the grant. We will <br />have aclose-out agreement with EPA that <br />tells us that any money that comes in after <br />the close-out will belong to the City of South <br />Bend and will be subject to any teens we <br />negotiate with EPA. It will probably have <br />some sort of environmental requirement on <br />it. but will be the cit~~'s money. <br />Mr. Downes asked when demolition will <br />begin. Ms. Kolata responded that the bids <br />came in last week. Staff intends to interview <br />at least the two low bidders. The bids ranged <br />fi•om just under $6M to over $IOM. That's <br />for demolition of both the foundry and the <br />engineering building. The Board of Public <br />Works will award the bid on August 23. <br />9 <br />
The URL can be used to link to this page
Your browser does not support the video tag.