RM 10-04-74 - Laserfiche WebLink

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