SM 07-25-80 - Laserfiche WebLink

Home Browse Search

South BendlRedevelopment Commission Special Me ting - July 25, 1980 6. NEW f.' continued... Mr-1 Cira: Wouldn't it be necessary to ha e something drawn up and signed so th# they don't come back in the future? Mr. Hill: No. I feel comfortable with the representation made: Mainly because of what happened. They really did just drop the ball in the opinion of the staff. There was a month to a month and a half lag which was a very critical period in getting together the steps needed on the boni issue and to make sure that we did not miss any step which would invalidate the boni issue. We had no communication at all WiO them during this critical period. Mr. Ellison: I might add, Mr. Cira that we did not receive communication until after the Commission authorized me to write Kirchner Moore a letter. The letter was written to them about six weeks after they had dropped all contact with us. It was a little bit disconcerting to be in a position where the client had to write the underwriting firm and say that we were not aware of what was going on. Mr. Butler: Especially at such a critical timo as indicated. Mr. Robinson made a motion to terminate the agreement with Kirchner Moore and Co any in which they acted as financial advisor to the Redevelopment Commission in connection with a proposed program of urb redevelopment financing (tax incre- men al financing), seconded by Mr. Cira, and the motion was unanimously carried. g. Comn ission`a the ExecutiV rieg date 'a Colloi ion I in c o an redeve fin cing 'and )val requested to authorize _rector and Legal Counsel to tract fnr professional services BOFF, & SAIFORD, INC. to act visor to the Redevelopment innection With a roposed program .opment iriancing tax incremental urther authorizing the Commission 'cretary to execute said contract. 18 MOTION PASSED BY COMMISSION TO TERMINATE CONTRACT WITH KIRCHNER MORE -RE: TAX INCREMENTAL FINANCING (IND. R -66)