RM 09-04-92 - Laserfiche WebLink

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,,South Bend Redevelopment Commission Regular Meeting - September 4, 1992 6. NEW BUSINESS a. Public Hearing on Resolution No. 1090 appropriating money from the South Bend Central Allocation Area Special Fund to the Palais Royale Acauisition Protect Principal and Interest Account of the Redevelopment District Bond Fund. Mrs. Kolata explained that Resolution No. 1090 is related to the purchase of the Palais Royale building through bond funds. It appropriates $295,500 from the TIF General Account and sets it aside for three lease payments on the project. There needs to be this amount in the Principal and Interest Account so that it is not necessary to levy a tax in order to make lease payments. Mrs. Kolata noted that we have received the proofs of publication from the South Bend Tribune and Tri- County News stating that the Notice of Public Hearing was published August 28, 1992. Mrs. Kolata noted that following at approval of Resolution No. 1090 the allocation goes to the State Tax Board which has 15 days to disapprove. Ms. Auburn asked if there was any objection to entering the proofs of publication from the South Bend Tribune and Tri - County News into the record. There was no objection and the items were so entered. Ms. Auburn opened the Public Hearing for whoever wished to speak. There was no one who wished to speak. Ms. Auburn closed the Public Hearing for whatever action the Commission wished to take. b. Commission approval requested for Resolution No. 1090. Upon a motion by Mr. Donoho, seconded by Mr. Faccenda and unanimously carried, the Commission approved Resolution No. 1090 appropriating money from the South Bend Central Allocation Area Special Fund to -5- PUBLIC HEARING ON RESOLUTION NO. 1090 COMMISSION APPROVED RESOLUTION NO. 1090 APPROPRIATING MONEY FROM THE SOUTH BEND CENTRAL ALLOCATION AREA SPECIAL FUND TO THE PALAIS ROYALE ACQUISITION PROJECT