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05-08-07 Redevelopment Commission Minutes
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05-08-07 Redevelopment Commission Minutes
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5/8/2007
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05-08-07 Redevelopment Commission Agenda
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South Bend l .edevelopm ci—it 'onimissloll <br />Rescheduled Regular Meeting ...-..May 8, 200 <br />6. NEW BUSINESS � . NT. <br />D. Sample-Ewing Development Area <br />(1) continued.., <br />gathering property and demolishing buildin s <br />to eventually transfer to the Park Department <br />for an expansion of the Southeast Farb.. we <br />own a vacant property there. Glven the <br />vandal.isni and Some of the other issucs with <br />OwIlingy vacant properY ty, it would be wise to <br />demo that property. The remaining $215,000 <br />would be used for debt service payments on <br />the indebtedness of the Sample --EwXn <br />Development Area. This has been discussed <br />with the 'mitrol ter who has agreed to this <br />use of the funds. we have checked l with <br />bond COLHI el to makc sure how the penalty <br />mone y from , ..f. WrIaht should be treated, <br />since that project was a bond project. fond <br />counsel has indicated that it would be treated <br />life any other General Fund money and can <br />be used for any purpose. <br />Ms. Jones asked if that amount 1s sufficient <br />to cover debt service obligations. :fir*. Inks <br />responded that there may still be a shortfall. <br />~here was to be aboLrt $300,000 that needed <br />to be picked up by the city's capital budget <br />this year. Mis will reduce that by about <br />$oo,000. <br />Mr. Peczkowski noted that lie and Ms Jones <br />were at a meeting last week where there was <br />d.i crrrssi.o.n of including this area in the <br />Airport TI ' district. He wanted to know how <br />would this affect that discussion. Mr. Inks <br />responded that it WOL111d not affect those <br />discussions. <br />25 <br />
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