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South Bend edevelopment Commission <br />Regular Meeting - June 26, 1987 <br />4. COMMUNIQATIONS (Cont.) <br />C. Coitinued... <br />A edistribution of partnership shares <br />has occured, and the make -up of River <br />Glen South Associates is now as follows: <br />Anthony J. Panzica, R.A. <br />James J. Panzica <br />John A. Panzica <br />Philip E. Panzica, R.A. <br />Thomas C. Panzica <br />William A. Panzica <br />General <br />Partner <br />25% <br />General <br />Partner <br />15% <br />General <br />Partner <br />15% <br />General <br />Partner <br />15% <br />General <br />Partner <br />15% <br />General <br />Partner <br />15% <br />This change was anticipated by our <br />le der, and will not affect the <br />financing commitment for the project. <br />We have also previously discussed this <br />situation with Hedy Robinson of your <br />de artment. <br />We trust that your department will <br />handle whatever formal notification of <br />and approval by the Redevelopment <br />Conmission as may be required. As <br />always, we thank you for your <br />c Aeration, and look forward to the <br />su cessful completion of the River Glen <br />So th project. <br />ly, <br />GLEN SOUTH ASSOCIATES <br />J. Panzica, R.A. <br />Partner <br />Mr. Hunt noted that as part of the <br />Contract for Sale of Land, any change in <br />the make -up of the partnership requires <br />foimal notification for the Commission <br />to approve or reject. <br />Upon a motion by Mr. Piasecki, seconed <br />by Mr. Combs and unanimously carried, <br />the Commission approved the change in <br />partnership of River Glen South <br />tes. <br />-5- <br />A <br />