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7(e) NEW BUSINESS, continued: Mr Brownell: I think this will become apparent in a moment, we have so e other contracts here that will indicate the things that are ha pening. Mr Evans: My concern is partly that I am a member of the parking study commission appointed by the Mayor and the Council and we are continually trying to keep ourselves aware of what is happening and we would like the benefit of... Mr Brownell: We would like you to have it - in fact I think we can wo k it out with you after the meeting. Chair: One of the.big questions is what to do with the bus terminal. We have a great obligation to the travelling public who use the buses, to get them in and out of the center of the city: On the other hand, you have certain HUD regs as to the use of land for transportation facilities and you have to combine the need and the regs and come up with a solution and this is one of the great problems we have downtown. Motion was then put to the vote and carried. (f ) C. Wayne Brownell read Item 7 (f) of the agenda concerning request for Commission authorization to enter into formal contract with Borge & Pitt, Attorneys, for preparation of advice concerning legal im- p ca ions o t e provisions of Indiana Code concerning Tax Increment financing of Redevelopment improvements and in particular, how these provisions affect proposed parking facilities in the Indiana R -66 Project Area. Contract term will commence on January 1, 1976 and be completed no later than 24 consecutive calendar months from the date of the contract. Mr. Brownell explained that Borge & Pitt have had experience in this field and it was deemed a good idea to work with someone who had experience in this particular area where we need help. He also indicated that he and Mr. Butler have worked out a potential co tract with Mr. Barge which calls for work to be paid on an hourly basis, with a lower hourly fee for the staff members, with a maximum not to exceed $10,000. BORGE & PITT ATTORNEYS, CONTRACT AUTHORIZED IND. R -66 Chair: This matter has been explained before. At the last session of the legislature we were working with Sen . Guttman and members of the House concerning some legislation for us concerning the downtown area and the tax situation. Mr. Butler and Mr. Brownell have been in contact with this firm through the months and were up there two or three weeks ago, in anticipation of further legislation being necessary on this subject. Mr. Donaldson: Is the date of contract correct - January 1, 1976? Mr Brownell: Borge & Pitt have been working on some of these things al this year and we have made some payment but this is a formal contract. Mr Evans: Is this work completed also? Mr Brownell: No, we have just now worked out a formal contract, before we had a normal relationship between attorney and client. 12