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RM 10-04-74
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RM 10-04-74
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5. %D BUSINESS (Cont'd <br />This item was also discussed in the previous session, <br />with the news media and public present, and Mr. L. Kent <br />Wilcox advised the Redevelopment Commissioners and <br />Legal Counsel, that the information Mr. Lennon was <br />given on the R -57 rehabilitation complaints was in <br />error. There are actually eighteen (18) units in the <br />LaSalle Park complaints left to be brought up to the <br />home owners' satisfaction - -that are not fully completed- - <br />that we entered into about a year ago for rehabilitation, <br />plus the three (3) on South Iowa Street mentioned above, <br />along with the Pope's, and discussed in the last Commis- <br />sion meeting. <br />c River Bend Plaza Foundation, Inc.: This is a request <br />to enter into a contract with the River Bend Plaza <br />Foundation, Inc., to purchase decorations for Christmas <br />and other events for the River Bend Plaza, Project <br />Indiana R -66. <br />Mr. Kevin J. Butler, Commission Legal Counsel, said in <br />the Commission meeting of September 6, the Commission <br />approved a loan of $30,000 to the River Bend Plaza <br />Foundation, Inc., a non - for - profit Corporation, esta- <br />blished in Indiana. The approval was subject to review <br />and approval by Legal Counsel. <br />Mr. Butler advised they did review the matter and the <br />monies are to be paid from the '72 Bond Issue. This <br />cannot be done under the terms of the bond documents <br />and statute; however, they have devised another method <br />of accomplishing this, which needs approval by the Com- <br />mission, and actually does accomplish the same thing. <br />The Commission will. purchase Christmas decorations, etc., <br />in amount not to exceed $30,000 and over and above that <br />will be paid by the Foundation. The Foundation will <br />enter into an agreement to purchase the decorations with <br />the Commission, to be paid back in three (3) equal payments: <br />July, '75, '76, and '77; and, during that time and the time <br />after which final payment is made, the Foundation itself <br />will be responsible for the downtown installation, removal, <br />and storage of the decorations. <br />Mr. Karl King, Chairman, River Bend Plaza Advisory Committee, <br />said he is very happy and grateful to receive the funds as <br />specified. They are in the process of raising that amount <br />and will try to repay the first installment or at least a <br />portion of it by Christmas. The decorations are here. Mr. <br />Louis N. Wilcox, Director of the River Bend Plaza Office, <br />said this makes him completely happy to have the decorations <br />for the oncoming events. <br />- 7 - <br />RIVER BEND PLAZA <br />FOUNDATION, INC. <br />LOAN AGREEMENT <br />AUTHORIZED <br />
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