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South Bend <br />Regular Me <br />6. NEW BU <br />d. Co <br />elopment Commission <br />- June 28, 1985 <br />(Cont.) <br />Upom a motion made by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />Commission approved Resolution No. 744 <br />approving the fair re-use value of land in the <br />South Bend Central Development Area. <br />e. C ssion approval requested for Bid <br />Specifications and Desi n Considerations for <br />Parcel El -1 in the South Bend Central <br />Dev6lopment Area. <br />Upom a motion made by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />Commission approved Bid Specifications and <br />Design Considerations for Parcel E1 -1 in the <br />South Bend Central Development Area. <br />f. Commission approval requested for contract <br />with S rin sted Incorporated for financial <br />con ultina services. <br />Mr. Hunt explained that the staff has been <br />working on the merger and expansion of the <br />three redevelopment areas that are now <br />co ined into the South Bend Central <br />Development Area. Part of that strategy <br />included assessing the possibility of a tax <br />incremental financing bond for activities <br />wit1iin the new Redevelopment area. The staff <br />has taken this process as far as possible with <br />our expertise and now require some <br />professional assistance within the financial <br />consulting areas. The staff is recommending <br />that the Commission approve a contract with <br />Spr ngsted Incorporated for financial <br />consulting services associated with the tax <br />increment financing possibilities. By moving <br />int the consulting services agreement it will <br />allow the Commission to make a decision as to <br />whether a tax incremental bond is feasible and <br />should be pursued. <br />Ms. Schwartz outlined the scope of services <br />provided by the contract. She explained that <br />the selection was made from a number of public <br />finincial advisory firms who had expertise <br />within the public financing area. The various <br />aro ps were contacted and asked to submit <br />COMMISSION APPROVED <br />RESOLUTION NO. 744 APPROVING <br />THE FAIR RE -USE VALUE OF <br />LAND IN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA <br />COMMISSION APPROVED BID <br />SPECIFICATIONS AND DESIGN <br />CONSIDERATIONS FOR PARCEL <br />El -1 IN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA <br />