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6. 4W BU_S_INESS (Copt' d
<br />time he plan goes into -effect;. future em
<br />p;lo,es 09,410
<br />not g t back service credits.
<br />Mr. B rbe apprised the ,CoWisston the Jniti.a;l .,costs
<br />would be as follows:
<br />,
<br />1) City of South Bend, Dept.
<br />of Redevelopment service: ,$ 20.,792.4?
<br />2) City of Sou
<br />th d End s
<br />St. Josepp, Caun' �,s rv�ces 13,841..SC
<br />�.� , ,, g.;, , AS
<br />.T i;a 4 b c 2
<br />If any and all past service is -al owP;d beyon they den,
<br />years, the total cost;
<br />prepai premium immedi etel set :up as a X011 3: '
<br />for th employee. J ,
<br />Mr. Wiggins stated this is n �S �kjshe.difundpd plan
<br />and as ed where the money. yj 1 � .:,Yomg _,fngt ? 4 M�^� Che,nrtey
<br />stated whether 2/3's Federail 1 /3.,G�t the popq
<br />originally comes from the'" pc " ers ` yx
<br />a.
<br />f i
<br />Mr. Wi gins said the gjdter` .e 14 tees . `Oee entitled to,
<br />co id ration and he stated a was in favor of local.
<br />servic setup, with a ten -year maximum stipulation;
<br />and th t this would prettysTwell; covgr,evpiryope.,we
<br />have.
<br />On motion by Mr. Wiggins, seconded by Mr. Chenney,
<br />the Pr dential Company.. is ,seWted to , evelp a re,
<br />ti reme t plan for the employees 6-"- the Ci t± of South .. ..; ;
<br />Bend, Department of Redevelopment'and'to present said
<br />plan to the proper agencies for .their.. approval.,;.;. Also
<br />the Commission is author's zed 0):4706 the letter, 4;6f
<br />Intent (The Letter of ,Intent. fs;. not . binding to .th
<br />Redevelopment Commission or, .tQ. the N��ioral A�soo�a r
<br />ti on for Community Development) , with back_ seryi.oe
<br />credit on local eligibility, with a maximum of ten
<br />(10) years. The mot on was.,- unanimous ly carried by
<br />all Commissioners.
<br />C .
<br />Option
<br />A reements 'Approval and authorization
<br />FIVE;`OP°TIQN OEE-
<br />was requested
<br />forte
<br />President to 04n'five (5) Op=
<br />MENTSIPPROVE
<br />tion Agreements,
<br />in
<br />the Centraa Downtown Urban, to
<br />,PARCEL
<br />NOS, 17 8,.18 -�4, 20 -8,
<br />newal Project,
<br />R -66,
<br />for the fo1,.Towing parcels:::
<br />CENTRAL
<br />OOWN'TOWN URBAN tENEWAL
<br />#17 -8
<br />300
<br />S. CoTumhja Street
<br />PROJECT, R -66._
<br />#18 -4
<br />302
<br />E', . �la�+ne Street
<br />#20 -8
<br />326
<br />" A28 S Michigan Street
<br />#20 -9
<br />330
<br />S. Michigan Street
<br />#28 -4
<br />555
<br />Lincoln Way East
<br />-8-
<br />
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