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5. OLD BUSINESS (Cont'd Authorization to execute and sign Option Agreements: Dis- cussion followed for Commission authorization to enter into Option Agreements. Mr. C. Wayne Brownell, Executive Director, advised that each bidder on Section 8 Housing will be given an option to buy two (2) acres of the Block 6 land, and we will under- take to join in and approve each of the said options, so that anyone who wishes to bid on Section 8 Housing on Block 6, on land specified for that purpose, will be able to get an option from the St. Joseph River Bend Development Corpo- ration, which we would join in, and we need authorization from the Commission to sign the Option Agreements. They will probably have to be signed between our Commission meetings because they have documentation sent to them now to make their biddings. Mr. Kevin J. Butler, Commission Legal Counsel, advised we will have a form that will be used in each case, and we will have to approve that form ourselves and HUD is going to have to approve it also. Once the form has been ap- proved by our Legal Counsel-and by HUD, the Executive Director can simply sign those on behalf of the Department of Redevelopment. The motion was made by Mr. Cira, seconded by Mr. Chenney and carried, that the Executive Director be authorized and di- rected to execute and sign Option Agreements with potential developers for not more than two (2) acres of Block 6 land for Section 8 Housing, in between Commission meetings, subject to Legal Counsel approval of the Option Agreement. EXECUTIVE DIRECTOR AUTHORIZED TO SIGN OPTION AGREE- MENTS, R -66 Mr. Gene Evans, Executive Secretary, Civic Planning Associ- ation, asked if that turns out to be more or less a three - way arrangement then between the developer, (the St. Joseph River Bend Development Corporation), the person or corpora- tion desiring to build Section 8 Housing, and the Redevelop- ment Commission? The Chair confirmed his statement. On the question raised on whether the St. Joseph River Bend Develop- ment Corporation must give an option and whether that is part of the contract, the Chair advised, the answer was "No, but that they are willing and have agreed to do so." In further explanation, Mr. Brownell advised that we have negotiated with HUD, and that HUD has had a Committee here looking over the sites and they have approved this site as one of the proper sites, and we have worked with HUD and with this developer and have worked out an arrangement whereby the bidders under Section 8 Housing may get an option on the two acres of land in Block 6. On questions raised by Mr. Dave Anderson, WNDU -TV Reporter, and answers summarized: Mr. Brownell advised the Section 8 bidding process has already started. It has been advertised. In the first round of bidders, all the bidders were rejected in St.