Laserfiche WebLink
South Bend <br />Regular Mee <br />6. NEW BUS <br />C. con <br />UPC <br />Mr. <br />Car <br />Agx <br />Prc <br />Ms. <br />d. Can <br />Mrs. <br />f. a <br />M <br />the <br />of <br />elopnent Commission <br />- February 22, 1991 <br />a motion by Mr. Donoho, seconded by <br />„nabs and unanimously carried, the <br />ssion approved the Subordination <br />ment with Teachers Credit Union for <br />xty located at 233 Laporte Avenue. <br />uburn abstained from. voting. <br />Kolata rooted that items d., e., and <br />.-e similar and explained them <br />;her. All three pertain to <br />sties in Monroe Park which are owned <br />a Redevelopment Authority and <br />ased to the Redevelopment <br />.ssion. The resolutions authorize <br />► roperties to be leased to the City <br />uth Bend through its Board of Public <br />The Board of Works intends to <br />ase the properties to the Housing <br />opnent Corporation which will <br />ate them and rent then to low and <br />ate income people. The term of the <br />is 22 years; the rent to be paid by <br />card of Works will be nominal. <br />Mrs. Kolata noted that there will be <br />othec Monroe Park properties caning to <br />the Commission for similar action in the <br />Mr. <br />Mr. <br />0 <br />oiasecki asked if property taxes <br />lbe paid on the properties if they <br />transferred to a root- for -profit <br />Lization. Mrs. Kolata responded that <br />would be subleased with the <br />Llation that property taxes, or a <br />at in lieu of taxes, be paid. <br />a motion by Mr. Donoho, seconded by <br />Iasecki and unanimously carried, the <br />ssion approved Resolution No. 980 <br />wing a sublease of real property to <br />i.ty of South Bend (310 E. South). <br />-7- <br />SUBORDINATION AGREEMENT WITH <br />TEACHERS CREDIT UNION •' <br />PROPERTY IOCATED AT 233 AVENUE <br />COMMISSION APPROVED RESOLUTION <br />NO. 980 APPROVING A SUBLEASE OF <br />REAL PROPERTY TO THE CITY OF <br />SOUTH BEND (310 E. SOUTH) <br />