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South Ben4 Redevelopment Commission <br />Regular Me ting - October 3, 1980 <br />6. NEW <br />a. continued..... <br />. Kolata: I don't believe there are <br />residential properties involved, <br />Mr. McMahon: ` Prior to the adoption of <br />this resolution it would be improper <br />for us to pursue any negotiations with <br />South Bend Screw, but at this time they <br />are aware that they will be meeting with <br />US. <br />James Cook: What is the acquisition <br />table? <br />Mrs. Kolata: On our schedule, the earliest <br />that we would make an actual purchase offer <br />is probably right after the first of the <br />year. We have to go through certain legal <br />proceedings and it would be some time after <br />J nary lst. <br />Mr. McMahon: Toward that end, Mr. Cook, once <br />this resolution is adopted it has to go through <br />reviews by both the Area Plan Commission and the <br />Common Council both of which are going to have <br />pu lic hearings on it and then refer approp- <br />ri to comments and suggestions back to the <br />Redevelopment Commission. We won't get to <br />th t point (the point at which it will go <br />before the Commission for a confirming <br />resolution) until the 19th of December at <br />the earliest. There is about six weeks to <br />two months of background work which has to <br />be done in order to meet the statutory <br />raluirements before it is confirmed and <br />only then can we initiate that action. <br />Ms Derbeck: Suppose the Park Department <br />Bond Issue does not go through, does that <br />m&m the East Race project would not occur? <br />Mr WJlbhon: It has been established that <br />the Park Department will pursue a bond issue. <br />The bond issue and its approval is what will <br />determine whether or not the reopening of the <br />E t Race will go ahead. We would like to <br />t nk that there will be sufficient support <br />to carry the bond issue. <br />9 <br />