2011-09-07 Redev Authority Minutes

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SOUTH BEND REDEVELOPMENT AUTHORITY REGULAR MEETING September 7, 2011 1308 County-City Building 10:30 a.m. 227 West Jefferson Boulevard Presiding: Jose Alvarez South Bend, IN 46601 The September 7, 2011 Regular Meeting of the Redevelopment Authority was called to order at 10:35 a.m. by its President, Jose Alvarez. There was a quorum present. 1. ROLL CALL Members Present: Mr. Jose Alvarez, President Ms. Carolyn V. Pfotenhauer, Vice President Mr. Ray Thomas, Secretary Redevelopment Staff: Mr. Don Inks, Director of Economic Development Mrs. Jenny Hullinger, Recording Secretary 2. APPROVAL OF MINUTES a. Approval of the minutes of August 3, 2011 Upon a motion by Ray Thomas, seconded by Carolyn Pfotenhauer, and unanimously carried, the Authority approved the Minutes of the Regular Meeting of August 3, 2011. 3. CLAIMS a. U.S. Bank National Association, Payment Requisition # 1 $135,396.98 Hall of Fame Expense Fund, Series 201IA Century Center Expense Fund, Series 2011B Mr. Inks said these claims are all related to the refunding of the bonds for Century Center and the Hall of Fame. They are issuance costs, such as ratings fees, trustee fees, legal fees, financial consulting fees, etc. The bottom line is the savings on having the bonds refinanced is close to a net of$1M between the two of them. Century Center Expense Fund Claim listed it as Series B, but it was actually Series A. Mr. Gregg Zienterra caught the error and just corrected it by writing an A over the B, but the Authority wanted the document corrected before it was signed. Baker and Daniels supplied the document after the meeting and it was then signed. Upon a motion by Ms. Pfotenhauer, seconded by Mr. Thomas, the Authority approved the claim, subject to the correction of the document. C4. NEXT MEETING DATE: September 21, 2011