Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - June 3, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />voluntarily to try to insure a good <br />product. <br />Upon a motion by Mr. Sharp, seconded <br />by Mr. Piasecki and unanimously <br />carried, the Commission approved <br />Resolution No. 1259 approving an <br />application for real property tax <br />deduction for property located at Lot 4, <br />Toll Road Industrial Park in the Airport <br />Economic Development Area. <br />b. Commission anmroval reauested for <br />Resolution No. 1260, approving <br />modifications to the lease for the College <br />Football Hall of Fame /Century Center <br />Project, and approving the execution of <br />an Addendum to Lease. <br />Mrs. Kolata asked Randy Rompola from <br />Baker & Daniels to go through and <br />explain the modifications that the <br />Resolution would make. <br />Mr. Rompola explained that the primary <br />change to the lease is reducing the lease <br />rental that will be paid on the Century <br />Center portion of the financing as a <br />result of the Redevelopment Authority <br />selling its bonds to the underwriter. <br />The maximum lease rental payment in <br />the original lease was listed at <br />$300,000.00 semi - annually through the <br />term of the lease based upon the sale of <br />the bonds and the interest rate on the <br />bonds. The Resolution indicates that <br />In <br />COMMISSION APPROVED RESOLUTION <br />NO. 1259 APPROVING AN APPLICATION FOR <br />REAL PROPERTY TAX DEDUCTION FOR <br />PROPERTY LOCATED AT LOT 4, TOLL ROAD <br />INDUSTRIAL PARK IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA <br />