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RM 03-27-92
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RM 03-27-92
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South Bend edevelopment Commission <br />Regular Mee ing - March 27, 1992 <br />6 <br />R <br />a <br />inued... <br />Upon a motion by Ms. Huddleston, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission approved Resolution <br />No. 1045 approving a Proposed Lease <br />between the South Bend Redevelopment <br />Aut ority and the South Bend <br />Red velopment Commission for certain land <br />and public improvements, setting a public <br />hearing on the Proposed Lease pursuant to <br />I.C. 36 -7 -14 -25.2, and authorizing <br />publication of notice of the public <br />heairing. <br />Mrs. Kolata explained that Evensen Dodge <br />has submitted a proposal for: 1) a tax <br />increment revenue and cash flow study; 2) <br />han ling the financing of the Palais <br />Roy le bond issue: and 3) the refunding <br />of he lease rental revenue bonds of 1988 <br />(St Joseph /Wayne Garage) to take <br />adv ntage of lower interest rates. <br />Mrs Kolata noted that the compensation <br />for the tax revenue study is a flat <br />amount of $12,500 plus reimbursable <br />expenses. However, if we go forward with <br />the St. Joseph /Wayne Garage refinancing, <br />we will receive a $9,000 credit from the <br />$12,500 fee. The fee for the Palais <br />Royale would be $15,000 and the fee for <br />the St. Joseph /Wayne garage would be <br />based on the size of the bond, in the <br />ran 4e of $27,000. <br />Mrs Kolata noted that the proposal <br />includes providing us with a hard copy of <br />all calculations, assumptions, and <br />reports that they have created and used <br />to provide the analysis. Our intention <br />is o try to build a computer program of <br />our own through the City Controller's <br />of f ce . <br />COMMISSION APPROVED RESOLUTION <br />NO. 1045 APPROVING A PROPOSED <br />LEASE BETWEEN THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY AND THE <br />SOUTH BEND REDEVELOPMENT <br />COMMISSION FOR CERTAIN LAND AND <br />PUBLIC IMPROVEMENTS, SETTING A <br />PUBLIC HEARING ON THE PROPOSED <br />LEASE PURSUANT TO I.C. <br />36 -7 -14 -25.2, AND AUTHORIZING <br />PUBLICATION OF NOTICE OF THE <br />PUBLIC HEARING <br />
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