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South Bend Redevelopment Commission <br />Regular Meeting - December 3, 1993 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />Mrs. Kolata noted that this proposal does not <br />meet the minimum offering price for the <br />space so the Commission may not accept the <br />bid at this time. There must be a 30 -day <br />waiting period before accepting an offer of <br />less than the minimum offering price. <br />Mrs. Kolata noted that she is a member of <br />the board of Michiana Arts and Sciences <br />Council. She was aware that this proposal <br />was coming, but has been trying to separate <br />her roles and represent the Commission in <br />this matter. <br />The Commission referred the proposal to <br />staff for its review. <br />PROPOSAL FROM MICHIANA ARTS AND <br />SCIENCES COUNCIL REFERRED TO STAFF <br />FOR REVIEW <br />b. Commission approval requested for <br />Resolution No. 1202 approving execution of <br />a Lease between the South Bend <br />Redevelopment Authority and the South Bend <br />Redevelopment Commission for certain land <br />and a building located thereon, and regarding <br />other related matters. <br />Mrs Kolata noted that the State Board of Tax <br />Commissioners has approved the maximum <br />lease payments for this bond issue. <br />Mr. Rompola explained that Resolution No. <br />1202 authorizes execution of the Lease and <br />authorizes execution of the Notice of the <br />Execution of the Lease. This notice triggers <br />a 30 -day objecting period on the lease <br />between the Commission and the <br />Redevelopment Authority for the lease <br />-5- <br />