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12-19-03 Redevelopment Commission Minutes
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12-19-03 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting— December 19, 2003 <br />6. NEW BUSINESS <br />E. Airport Economic Development Area <br />(4) continued... <br />Upon a motion by Mr. Blake, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the acceptance of a <br />counter -offer in the amount of $106,800 <br />related to the acquisition of property in the <br />Airport Economic Development Area. <br />(Gaby property) <br />(5) Commission approval requested for <br />Resolution No. 2026 amending Resolution <br />No. 1965 entitled "A bond resolution of <br />the South Bend Redevelopment <br />commission authorizing the issuance of <br />CW Tax Increment Revenue Bonds, Series <br />2003, of the South Bend Redevelopment <br />District" as previously amended by <br />Resolution No. 2004 and Resolution <br />No. 2017. <br />Mr. Rock reported that the City of South <br />Bend is paying off two (2) bonds in the <br />Airport Economic Development Area and <br />issuing a new bond in the amount of <br />approximately $14M. Resolution No. 2026 <br />establishes the City of South Bend <br />Controller as Registrar and Paying Agent for <br />the new bond issue, resulting in an annual <br />savings of an estimated $3,000 to $3,500. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2026 <br />amending Resolution No. 1965 entitled "A <br />bond resolution of the South Bend <br />Redevelopment commission authorizing the <br />issuance of Tax Increment Revenue Bonds, <br />20 <br />COMMISSION APPROVED THE ACCEPTANCE OF A <br />COUNTER -OFFER IN THE AMOUNT OF $106,800 <br />RELATED TO THE ACQUISITION OF PROPERTY IN <br />THE AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(GABY PROPERTY) <br />COMMISSION APPROVED RESOLUTION No. 2026 <br />AMENDING RESOLUTION No. 1965 ENTITLED "A <br />BOND RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AUTHORIZING <br />THE ISSUANCE OF TAX INCREMENT REVENUE <br />BONDS, SERIES 2003, OF THE SOUTH BEND <br />REDEVELOPMENT DISTRICT" AS PREVIOUSLY <br />AMENDED BY RESOLUTION NO. 2004 AND <br />RESOLUTION NO. 2017. <br />
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