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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 Reed Rcdevelopnient Commissioll <br />escheduled e�War Meeting - -Ma , 0 <br />i. NEW BUSINESS (COIN.) <br />1. Northeast Neighborhood Development Area <br />(4) continued. - . <br />ertlficat Y closin . <br />documents, transcripts, <br />make all required filings with the Internal <br />Revenue Service and other services as <br />described in the cngagement letter. In <br />addition to bond counsel. services, the <br />proposal also includcs assistance in the <br />do i -natioii of a housing allocation area <br />which will be the basis for the issuance of the <br />bonds. They will also provide services :for a <br />Memorand-uni of UJnderstanding and <br />D velopnient Acyreement v.11h Kite Realty <br />Group. The total fees are not stated in the <br />ellcyaluement letter. Staff proposes to bring <br />bacl� a budget for these services at the iiext <br />meeting, However, this project needs to <br />OTIMILie to move forward t meet the t1 alit <br />time line described earlier. The City <br />Attomey's office has signed off on using <br />.Baker & ' aniels as bond counsel. The City <br />Attorney's office, under state law, has <br />responsibility for raking the deci.sio'll 011 <br />who to usc for bored counsel. Staff <br />reconi m nds the Commission accept the <br />Ent,iragement Letter and have staff bring <br />budget to the next meeting. <br />Mr. Peczkowski asked how .many loyal <br />offices were contacted to submit Engagement <br />.letters. Mr. Leone responded that bond <br />counsel wofl( is hi hly'spe ia.li ed. The <br />Commission tries to use local fires if it can. <br />The. - are really only two firnis based in <br />South Bend that have abilities in this area, <br />.Bat -ties & Thomburg and Baker & Daniels. <br />Staff spoke with both and determ.1ned that <br />Baker & Daniels was the preferred firm <br />4 <br />
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