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South Bend evelcpYkent Counnission <br />Regular Mee ing - September 14, 1990 <br />6. NEW BUSS (Cont.) <br />r-A <br />c. continuea... <br />pri of $942,875. The interest rate is <br />7 1 2 percent and the Closing on the <br />bo is to be no later than September <br />Upom a motion made by Mr. Doncho, <br />seconded by Mr. Piasecki and unanimously <br />can-ied the Commission ratified the <br />Puntiase Agreement between Raffensperger, <br />Hughes and Co., Inc. and the City of <br />South Bend Redevelopment Commission <br />related to the issuance of $950,000 of <br />Tax Increment Revenue Bonds for the <br />Ajxport Economic Development Area. <br />Robinson explained that the <br />:ioner intends to construct a 6,400 <br />e foot addition to its current <br />ding to be used for a warehouse <br />ibution center. The facility is <br />ted to create 6 new permanent full <br />jobs. The total project cost is <br />ated to be $300,000. <br />Bill Panzica, who is one of the partners <br />at r <br />Tech Centre, brought along <br />co ction plans for the building. The <br />can-ent tenant is Smithkline Beecham <br />Health Products. They will be <br />va ting the south half of the existing <br />bui ding once the addition to the North <br />hal is complete. <br />Mrs Kolata stated that this design has <br />been approved by the Design Review <br />Comittee. <br />-19- <br />COMMISSION RATIFIED THE PURCHASE <br />AGREEMENT BETWEEN RAFFENSPERGER, <br />HUGHES AND CO., INC., AND THE <br />CITY OF • BEND REDEVELOPMENT <br />Ca,1MISSICIN RELATED TO THE <br />ISSUANCE OF ••• OF <br />INCP01ENT REVENUE BONDS FOR THE <br />AIRPORT C• • t DEVELOPMENT <br />