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South Bend 4Zedevelopment Commission <br />Regular Meeting - May 25, 1990 <br />6. NEW BUSVESS (Cont.) <br />e. <br />f. <br />Mrs Kolata explained that the Commission <br />previously reimbursed the City from Rum <br />village tax increment financing funds. <br />The Common Council has appropriated <br />$100,000 of that to a Predevelopment Find <br />to be used for predevelopment activities, <br />sudi as data collection, market and <br />envirormLental studies, surveys, <br />appraisals, etc. This contract returns <br />it to the Commission and outlines what <br />the eligible expenditures are and the <br />ti for its use. The contract <br />from March 1, 1990 to December <br />31, 1990. All funds that are not <br />Obligated by December 31 or not spent by <br />Jantoxy 31, 1991, will be subject to <br />rep ograYmning. Mrs. Kolata noted that <br />the major portion of this money will be <br />used toward the Airport 2010 project. <br />Upon a motion by Mr. Combs, seconded by COMNTSSION APPROVED CONTRACT WITH <br />Mr. Piasecki and unanimously carried, the THE CITY OF SOU'T'H BEND FOR <br />Commission approved the Contract with the PREDE'VELOPMENT ACTIVITY <br />City of South Bend for Predevelopment (UR90 -002) <br />Activity (UR90 -002). <br />Mrs Kolata explained that these funds <br />also come from the reimbursement the <br />CmmLission previously made to the City <br />frcmi Rum Village tax increment financing <br />They were subsequently <br />app opriated by the Common Council for <br />public improvements to the parking lot <br />and road just north of Seitz Park. The <br />amount of the contract is $130,119. The <br />contxact extends from August 1, 1989 to <br />Decober 31, 1990. <br />