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South Bend Redevelopment Commission <br />Regular Meeting — December 16, 2005 <br />6. NEW BUSINESS (CONT.) <br />D. Airport Economic Development Area <br />There was no business in the Airport Economic <br />Development Area. <br />E. South Bend Medical Services District <br />There was no business in the South Bend Medical <br />Services District. <br />F. West Washington- Chapin Development Area <br />There was no business in the West Washington - <br />Chapin Development Area. <br />G. South Side Development Area <br />(1) Commission approval requested for <br />Resolution No. 2201 establishing <br />Commission intent to reimburse certain <br />preliminary costs from the proceeds of <br />bonds. <br />Mr. Inks noted that the Commission has a <br />development agreement with the Erskine <br />Commons project that requires the city to <br />widen Ireland Road west of Michigan Street. <br />A TIF Revenue Bond will help finance the <br />widening. At this point the bond is not <br />expected to be issues until mid- to late - <br />January, but we do need to get started with <br />construction. Resolution No. 2201 allows us <br />to start incurring costs and reimburse the <br />costs from bond proceeds when the bonds are <br />issued. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved Resolution No. 2201 <br />14 <br />COMMISSION APPROVED RESOLUTION NO. 2201 <br />ESTABLISHING COMMISSION INTENT TO <br />REIMBURSE CERTAIN PRELIMINARY COSTS FROM <br />THE PROCEEDS OF BONDS <br />