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No. 0848 approving modifications to and execution of a lease between the SBRA and the SBRC for the Stanley Coveleski Regional Stadium and regarding other related matters
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No. 0848 approving modifications to and execution of a lease between the SBRA and the SBRC for the Stanley Coveleski Regional Stadium and regarding other related matters
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i <br />3 <br />I � <br />a <br />x � <br />NOTICE OF EXECUTION AND APPROVAL OF LEASE <br />(Coveleski Regional Stadium) <br />The South Bend Redevelopment Commission (the "Commission "), gover- <br />ning body of the Redevelopment District of the City of South Bend, <br />Indiana the "Redevelopment District" <br />( p ), has executed a Lease with the <br />South Bend Redevelopment Authority (the "Redevelopment Authority ") <br />providing for the acquisition by lease /purchase by the Commission from <br />the Redevelopment Authority of the Coveleski Regional Stadium (the <br />"Stadium "). After a public hearing held on the proposed lease by the <br />Commission on April 29, 1988, at which all interested parties were <br />provided the opportunity to be heard, the Commission adopted its <br />Resolution No. 842 which, among other things, authorized and directed <br />the President or Vice President and Secretary of the Commission, on <br />behalf of the City of South Bend, to execute and deliver the Lease in <br />substantially the form presented at the meeting and found that the <br />rental payments to be paid by the Commission are fair and reasonable <br />and that the use of the Stadium throughout the term of the Lease will <br />serve the public purpose of the City of South Bend and is in the best <br />interests of its residents. <br />The Common Council of the City of South Bend adopted an Ordinance <br />approving the Lease on May 9, 1988, and the State Board of Tax Commis - <br />sioners issued its Order approving the Lease pursuant to IC 6-1.1 - <br />18.5 -8 on May 24, 1988. <br />-1- <br />EXHIBIT "B" <br />
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