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South Bend edevelopment Commission <br />Regular Mee ing - March 13, 1992 <br />6. NEW_BUS�LNESS (Cont.) <br />C. conkinued... <br />Cm <br />Mr. Hunt explained that Resolution <br />No. 1040 sets a public hearing for the <br />use of approximately $240,000 to carry <br />out the South Bend Central Development <br />Area Development Plan. Although the <br />mon y is in the TIF fund, most of the <br />mon y is the purchase price from the <br />Col ax Theater. The two major expenses <br />wou d be the acquisition of the Senor <br />Kel y lot and the extension of the River <br />Wal at Madison Center. <br />Mr. Hunt noted that the Public Hearing on <br />thi expenditure will be March 27, 1992 <br />at i0:00 a.m. <br />Upoi a motion by Mr. Donoho; seconded by <br />Ms. Huddleston and unanimously carried, <br />the Commission approved Resolution <br />No. 1040 determining to pay certain <br />exp nses incurred for local public <br />improvements in or serving the South Bend <br />Central Allocation Area (South Bend <br />Allocation Area No. 1A) from the South <br />Bend Central Allocation Area (South Bend <br />Allocation Area No. 1A) Special Fund and <br />set the public hearing on Resolution No. <br />1040 for March 27, 1992 at 10:00 a.m. <br />Mr. Hunt explained that Resolution <br />No. 1041 authorizes the staff to send a <br />purchase offer for Parcel E3 -1 in the <br />East Bank. The property is commonly <br />knoim as the Opelika Building. The <br />Co ission approved market price is <br />-4- <br />COMMISSION APPROVED RESOLUTION <br />NO. 1040 DETERMINING TO PAY <br />CERTAIN EXPENSES INCURRED FOR <br />LOCAL PUBLIC IMPROVEMENTS IN OR <br />SERVING THE SOUTH BEND CENTRAL <br />ALLOCATION AREA (SOUTH BEND <br />ALLOCATION AREA NO. 1A) FROM THE <br />SOUTH BEND CENTRAL ALLOCATION <br />AREA (SOUTH BEND ALLOCATION AREA <br />NO. 1A) SPECIAL FUND AND SET THE <br />PUBLIC HEARING ON RESOLUTION <br />NO. 1040 FOR MARCH 27, 1992 AT <br />10:00 A.M. <br />