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South Bend Redevelopment Commission <br />Regular Me ting - July 8, 1988 <br />6. NEW BUSINESS (Cont.) <br />b. Continued... <br />. Kolata asked what assurance the <br />nission would have that the second and <br />rd phases would be completed. Mr. <br />=_dix indicated that Mr. Heins was not <br />Tied about the success of the project <br />intends to complete the entire <br />iect. <br />Mr. Nimtz recognized Mr. Clark for an <br />lanation of his proposal. Mr. Nimtz <br />as ed about the below grade parking. He <br />wo dered how much would be seen from the <br />street. Mr. Clark responded that the <br />first floor would be approximately one <br />foct above grade, so parking would be <br />almost entirely obscured. He compared <br />the appearance to that of One Michiana <br />Square's parking. <br />Mr. Piasecki asked Mr. Clark to review <br />the start and completion dates for the <br />project. Mr. Clark responded that <br />construction could start as early as mid <br />October and be complete in approximately <br />one year. <br />Upon a motion by Mr. Donoho, seconded by COMMISSION ACCEPTED THE PROPOSAL <br />Mr. Combs and unanimously carried, the OF NILES COLFAX ASSOCIATES FOR <br />Co ssion accepted the proposal of Niles PARCEL E2 -15 <br />Colfax Associates for Parcel E2 -15 and <br />autnorized its officers to execute the <br />nec ssary documents. <br />c. Ado tion of Resolution No. 851, a <br />res lution of the South Bend <br />Red velopment Commission finding and <br />determining that payments of property tax <br />pro eeds from the allocation fund to the <br />res ctive taxing units shall not be <br />aut orized. <br />Mrs Kolata noted that this is a <br />technical resolution. In 1987 the <br />Indiana legislature passed a law that by <br />July 15 of each year the Redevelopment <br />Comnission must notify the auditor if <br />there is any excess tax increment revenue <br />-6- <br />