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South Bend Pedevelopment Commission <br />Regular Mee ing - July 13, 1990 <br />6. NEW BUSPNESS (Cont.) <br />M <br />a. conti.nuea... <br />Mr. Nimtz asked if there was any <br />objection to these items being entered <br />into the record. There was no objection <br />and the items were received into the <br />Mrs Kolata noted that the Public Hearing <br />tcday concerns the appropriation of the <br />proqmds of the bond authorized in <br />Resolution No. 945. This appropriation <br />autliorizes the bond proceeds to be used <br />for land acquisition, all reasonable and <br />necessary architectural, engineering, <br />financing, legal, accounting, <br />advertising, and supervisory expenses, as <br />wel as capitalized interest and a debt <br />seri,ice reserve. <br />Mrs Kolata noted that any interest the <br />bond proceeds earned is also appropriated <br />in this appropriation. <br />Mr. Piasecki asked how large of an <br />increment is available in the Airport <br />Economic Development Area. Mrs. Kolata <br />r nded that there would be <br />approximately $120,000 of tax increment <br />in 1991 and approximately $236,000 in <br />1992. This increment is mostly from <br />existing industrial projects which have <br />tax abatement which will be declining <br />eadi year. <br />Mr. Nimtz opened the Public Hearing for <br />any one who desired to be heard regarding <br />Resolution No. 946. <br />was no one who desired to be heard <br />lima Resolution No. 946. <br />Mr.Nimtz closed the Public Hearing for <br />wha#ever action the Commission desired to <br />-4- <br />PUBLIC HEARING ON RESOLUTION <br />NO. 946 <br />