RM 03-27-92 - Laserfiche WebLink

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