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SM 03-11-94
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SM 03-11-94
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e luth Bend Redevelopment Commission <br />ecial Meeting - March 11, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />assertions that he was protecting the <br />confidentiality of his corporate <br />benefactors. Yesterday we found out that <br />there was nothing to protect. Not one <br />corporation needed anonymity because <br />not one corporation had signed on as a <br />sponsor. Shame on you, Mayor Kernan, <br />for that deception. Shame on you South <br />Bend media for not calling the Mayor to <br />task for that deception. I urge the <br />Commission to table the bond motion <br />before it to give citizens at least two <br />weeks to digest it and to ask questions. <br />This project has been delayed before. <br />There should be a brief delay now for <br />public consideration of a drastically new <br />financial plan which Kernan has unveiled <br />at the eleventh hour. We will be paying <br />at least $37, 000, 000 for those bonds <br />over the next twenty -five years. Let's get <br />it right before we take on that huge <br />commitment for a project that has been a <br />failure for the past forty-five years. <br />Thank you very much. <br />Mr. Oakley noted that the $14,000,000 <br />cost for the Hall of Fame is not a total <br />cost. The public is under the <br />misconception that $14,000,000 will pay <br />off the bonds. It will take $37,400,000. <br />That is a shortfall of $23,000,000. The <br />public does not understand this. <br />Mr. Oakley asked the Commission if <br />they know the names of the local citizens <br />C-� who are guaranteeing $2,500,000 of the <br />-11- <br />
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