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South Bend Redevelopment Commission <br />Regular Me ting - March 14, 1986 <br />6. NEW BUSINESS (Cont.) <br />e. conrinuea... <br />f. <br />Mr. Hunt noted this item was added to the <br />ag nda. Springsted, Incorporated is the <br />consultant firm that did the work for the <br />Colimission on the tax increment financing bond <br />in 1985 that resulted in the successful sale <br />of the first TIF bond in the State of Indiana. <br />The staff recommends entering into a contract <br />with Springsted for two items. The primary <br />purpose would be to assess the feasibility of <br />another TIF bond in the South Bend Central <br />Development Area for 1986. Secondly, to <br />assist the staff in developing some rules and <br />procedures that will guide the administration <br />of the TIF bond at the state level. If <br />approved, Springsted will look at the South <br />Bend Central Development Area and tell us <br />wh ther we can look at another small tax <br />increment financing issue, and if so, what <br />will be the size, the possibility of bond <br />in urance and all the other issues involved in <br />se Tina a bond. <br />Upon a motion made by Mr. Donoho, seconded by <br />Mr. Combs and unanimously carried, the <br />Conmission authorized the President and <br />Secretary to enter into a Contract for <br />Professional Services with Springsted, <br />In orporated concerning a tax incremental <br />firlancinq bond. <br />Conmission approval requested for Resolution <br />No. 772 commending Janet S. Holston for <br />me itorious service to the Bureau of Housing <br />Mr. Nimtz noted that the Commission regrets <br />thE,.resignation of Janet Holston as Director <br />of the Bureau of Housing. Mr. Nimtz read the <br />following resolution into the record. <br />RESOLUTION NO. 772 <br />A RESOLUTION OF THE CITY OF SOUTH BEND <br />REDEVELOPMENT COMMISSION COMMENDING <br />JANET S. HOLSTON FOR MERITORIOUS <br />SERVICE TO THE BUREAU OF HOUSING <br />WHEREAS, many people express concern <br />ab ut urban problems and their impact upon the <br />co munity; and <br />MV-7 <br />COMMISSION AUTHORIZED THE <br />PRESIDENT AND SECRETARY <br />TO ENTER INTO A CONTRACT <br />FOR PROFESSIONAL SERVICES <br />WITH SPRINGSTED, INCORPORATED <br />CONCERNING A TAX INCREMENTAL <br />FINANCING BOND <br />