RM 07-21-72 - Laserfiche WebLink

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6. NEW BUSINESS (ConVd) These ircumstances necessitate an amended application to HUD for increased funds totalling approximately 9 Million Dollar;. The 3.8 Million Dollars from the bond issue will be useJ principally for costs of acquisition and property renewal as set forth in Resolution No. 215 adopted by the South 3end Redevelopment Commission on April 4, 1968. The Re evelopment Commission is hopeful that the 3.8 Millioi Dollars will be reimbursed by Federal grants in the form of amendatory funds; however, since the total of the ;e grants and the timetable of reimbursement is indefi ite and subject to prolonged negotiations with HUD, it is 3ssential that the Commission proceeds as quickly as possible with the bond issue so there will be no delay in comple ion of this most necessary project. c. Bond Counsel Contract: This Contract is between the Redevelopment Commission and the firm of Roemer, Sweeney and Roemer, for professional services as bond counsel for the proposed 3.8 Million Dollar bond issue, as discussed above in Resolution No. 413. Legal Counsel fees are to be equivalent to the Bar rate as set forth in the Schedule of Minimum Fees of the St. Joseph County Bar Association, dated May 1, 1965. Legal Counsel is authorized by Commission to retain as consulting bond counsel, Ice, Miller, Donadio & Ryan of India apolis, Indiana -- fees to be paid by Commission. BOND COUNSEL CONTRACT APPROVED, R -66 On motion by Mr. Chenney, seconded by Mr. Wade, Commis- sion Fresident and Secretary were authorized to enter into z contract with Roemer, Sweeney and Roemer, as bond couns 1 for the proposed 3.8 Million Dollar bond issue. Motior unanimously carried. d Merry Avenue Project: Commission authorization PUBLIC HEARING ADVER- was r quested to advertise the Merry Avenue Project at TISING APPROVED FOR the earliest possible date, for a public hearing to be MERRY AVENUE PROJECT held lugust 18, 1972, at 10:30 A.M., in the Department of Re evelopment Regular Commission Meeting. Under Indiana State Statutes, it is necessary to hold a public hearing, after receiving Common Council approval, to establish an urban renewal project. This is totally a local funding project through the Model Cities Program. The cost of this project can be used as a credit towards futur urban renewal projects in the area. On mo- above to be 1972. ;ion by Mr. Wiggins, seconded by Rev. Williams, the advertisement was approved with the public hearing held in Regular Commission Meeting of August 18, Motion unanimously carried.