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South Bend qedevelopuent Commission <br />Special Meeting - December 16, 1987 <br />6. NEW BUS] SS (Cont.) <br />d. Continued... <br />plan. We have asked them for a proposal <br />for design services and documents <br />nec ssary to go out for bids on the <br />con traction work. There are some minor <br />issues that still need to be resolved <br />bef re signing the contract, but CWA <br />Wal er needs authorization to proceed <br />wi the early phases. <br />Mrs. Kolata noted that the study and <br />report phase will be complete within 21 <br />days, the preliminary design complete 30 <br />days later, final design 70 days after <br />that. These phases will be complete, <br />then, within 17 weeks. The cost will not <br />exceed $149,000 for basic services plus <br />the fee for the resident project <br />representative which is $7,000 per month. <br />Cole and Associates has been designated <br />by CWA Walker, Inc. as the resident <br />project representative. <br />Ms. Schwartz noted that these engineering <br />costs would be paid for out of the bonds <br />to be sold by the yet to be created <br />Redevelopment Authority. <br />Mr. Piasecki asked what would happen to <br />these costs if the garage is not built. <br />Mrs. Kolata responded that we would have <br />to find another source of funds, possibly <br />tax increment financing funds. <br />Mr. lunt noted that the Redevelopment <br />Authority has the ability to sell bonds, <br />but not the ability to tax. They would <br />enter into a lease with the Redevelopment <br />Commission to rent the garage and use the <br />rent monies to pay off the bonds. <br />Mr. biasecki asked what other areas the <br />Rede elopment Authority can get into. <br />Ms. Schwartz responded that it is <br />basically a service agency to the <br />Rede elopment Commission to sell bonds <br />for funding a project and leasing the <br />stru tune back to the Commission. <br />SOS <br />