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South Bend Redevelopment Commission <br />Special Me ting - December 26, 1985 <br />2. NEW BUSINESS (Cont.) <br />a. Comtinuea... <br />structure was changing it was deemed necessary <br />by the Comnnission's attorney and staff that a <br />special meeting be called on December 23rd to <br />review documentation that was requested from <br />the new partner in the Mill Race partnership. <br />Requested among other things was a series of <br />exhibits that are standard to the bid <br />documents that range from a proposal form, a <br />redeveloper's affidavit of non - collusion, <br />redeveloper's statement for public disclosure, <br />and a redeveloper's statement of <br />qualifications and financial responsibility, <br />which are all standard items. In addition to <br />that the Commission required that 10% of the <br />purchase price be forwarded in the form of a <br />certified check. At the December 23rd <br />meeting, because the general partner and other <br />mnbers involved in the project were scattered <br />around the United States, that documentation <br />di not arrive. While the Commission <br />discussed in Executive Session the disposition <br />of real estate and convened the public meeting <br />on December 23rd, they were unable to take <br />action because of the lack of information and <br />documentation required. Over the holidays the <br />staff was able to pull together information <br />that was requested and received the certified <br />check. During today's Executive Session <br />various aspects of the project and documents <br />were reviewed to see if the criteria were met. <br />It was determined by the staff and recommended <br />to the Commission that all the criteria that <br />we e outlined had been met on the documents su 'tted. <br />Mrl Hunt further noted that this is the first <br />in the process of seeing this development <br />pen. There are no assurances that the <br />ject is complete. Like any development <br />ject that the Commission is involved in, <br />re is a whole series of complex financial <br />nsactions that are going to have to be <br />pleted. However, if a step is not taken by <br />Commission today, the door is closed on <br />project. <br />ste p <br />Up n a motion made by Mr. Donoho, seconded by <br />Mr Combs and unanimously carried, the <br />-2- <br />