8437-93 Approving a Lease Public Improvements South Bend Redevelopment Authority South Bend Redevelopment Commission

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•'''—UTI-I '.4 ■eye��;-`•__ /. ✓ _ SC.) � \\' „� mod : .�� ,--; -r a. City of South Bend - ,-.%,?i`. Joseph E. Kernan, Mayor ? 1865 .-„Ft'' ZY Department of Administration and Finance Kevin C. Horton November 3 , 1993 Mr, Steve Luecke, President South Bend Common Council 4th Floor County-City Building South Bend, Indiana 46601 Re: An Ordinance of the Common Council of the City of South Bend, Indiana Approving a Lease for Certain Public Improvements between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission Dear Mr. Luecke, I am pleased to present for filing, an ordinance approving a lease for public improvements between the South Bend Redevelopment Authority, as Lessor, and the South Bend Redevelopment Commission, as Lessee. Construction of the College Football Hall of Fame and the acquisition of and certain improvements to the Century Center comprise the public improvements to be leased by the Authority to the Commission (the "Project" ) . Lease payments made by the Commission to the Authority shall serve to repay the principal and interest on the bonds issued to finance the Project. Please note that the ordinance provides the Council the opportunity to issue a final go-ahead on the Project after such time as all official approvals for the Lease have been obtained, but prior to such time as the Authority issues bonds to fund the Project. I am looking forward to discussing the ordinance with the Council and sharing with the Council the plans for the Project. Your favorable recommendation is respectfully requested. Sincerely, Kevin or on Controller County-City Building • South Bend, Indiana 46601 • 219/235-9216 Fax 219/235-9928 Catherine A.Hubbard Jeffrey A.Rinard Isabel Gonzalez Ronalda Minnis Gatha Vaughn Director Human Resources Finance Director Safety&Risk Manager Benefits Manager Barrett Law