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South Bend Redevelopment Commission <br />Regular Meeting — October 19, Zoo <br />6. NEW BUSINESS (CONY.) <br />G. Douglas Road Economic Development Area <br />(2) continued... <br />revenue projections as well as market <br />conditions. That dIdn't quile word. in the <br />way it was going to be structured. we <br />thought we had a deal comincy tip at the end <br />of the month when wells Fargo, who was <br />nancnig some of their other improvements, <br />had agreed to help purchase this bond. <br />Unfortunately, on Tuesday, w received a <br />call from wells Fargo that they had made <br />another requirement on the purchase that <br />wasn't acceptable le to every party involved. <br />We had drafts of everything ready on <br />Wednesday that had to be ulled. we're now <br />hoping to be able to work somethin out <br />before the end of the month because we do <br />have a good construction bld that came in. <br />We wanted to let you know why this came on <br />so suddenly—to be able to award the <br />eonstnietion bid ahead of pricing for next <br />year's constniction. If you would open the <br />Public Hearing and then continue it until <br />November 2, we wouldn't have to republish <br />the notice. <br />Mr. King asked if nain the changes <br />required by the financial institution would <br />result in substantive charges to Resolution <br />No. 2391 the way it has been published? Mr. <br />Peterson responded that the parameters <br />outlined in Resolution No. 2391 will remain <br />the same. The maximum bond to be <br />authorized will be $ l ,300,000. The <br />maximum interest rate will be the same as <br />has been advertised. <br />Mr. Peczkowski asked why Holladay <br />11 <br />