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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -November 2, 2007 <br />6. NEW BUSINESS <br />A. Public Hearing <br />(2) continued... <br />Mr. Peczkowski responded then, that the <br />$74M was a more accurate figure than the <br />$36M as far as actual money paid. Mr. Inks <br />responded that in terms of cash outlay, that is <br />correct; in terms of value today, the $36M is <br />the accurate number. Mr. Peczkowski said he <br />was not opposed to this but wanted others to <br />realize the actual cost over the years would <br />mean our public to private investment would <br />be more on the order of 2.5 to 1 rather than <br />five to one. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes, and unanimously carried, the <br />Commission approved Resolution No. 2392 <br />authorizing the execution of a Lease for <br />certain land and public improvements on <br />behalf of the City of South Bend, Indiana, <br />and regarding other related matters. <br />(3) Public Hearing on Resolution No. 2383 <br />amending the West Washington-Chapin <br />Development Area Development Plan. <br />(Contracting the boundaries) <br />Mr. Inks noted that the public hearing file is <br />complete and asked that the following items <br />be entered in to the record: (1) A copy of the <br />Notice of Hearing; (2) A copy of Resolution <br />No. 2383; (3) An affidavit from Carol Smith <br />of the South Bend Tribune that the notice of <br />hearing was published in that newspaper on <br />October 19, 2007; (4) An affidavit from <br />Richard Andrysiak of the Tri-County News <br />that the notice of hearing was published in <br />that newspaper on October 19, 2007. (5) A <br />COMMISSION APPROVED RESOLUTION NO. 2392 <br />AUTHORIZING THE EXECUTION OF A LEASE FOR <br />CERTAIN LAND AND PUBLIC IMPROVEMENTS ON <br />BEHALF OF THE CITY OF SOUTH BEND, INDIANA, <br />AND REGARDING OTHER RELATED MATTERS <br />20 <br />