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G- South Bend Redevelopment Commission <br />L <br />Special Meeting - June 24, 1994 <br />6. NEW BUSINESS (Cont.) <br />b. continued... <br />a great deal more money. That needs to be <br />said someplace. <br />Ms. Auburn noted that the opposition also <br />cost Coveleski Stadium a couple of <br />percentage points in interest. <br />Upon a motion by Mr. Piasecki, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved Resolution No. 1270 <br />approving and authorizing the execution of an <br />Amended and Restated Lease with the South <br />Bend Redevelopment Authority relating to the <br />College Football Hall of Fame Project. <br />c. Commission approval requested for Release <br />of Liability under Ground Lease. (1st <br />Source /Marriott) <br />Ms. Manier explained that the improvements <br />that are the Marriott Hotel are proposed to be <br />conveyed by their current owner, Aetna <br />Insurance and Surety Company, to Host <br />Marriott Corporation. Marriott will actually <br />own the Ground Lease and the <br />improvements. This Release releases Aetna <br />from its liability under the Ground Lease at <br />such time as Host Marriott agrees expressly <br />to assume those liabilities. <br />COMMISSION APPROVED RESOLUTION <br />NO. 1270 APPROVING AND AUTHORIZING <br />THE EXECUTION OF AN AMENDED AND <br />RESTATED LEASE WITH THE SOUTH BEND <br />REDEVELOPMENT AUTHORITY RELATING <br />TO THE COLLEGE FOOTBALL HALL OF <br />FAME PROJECT <br />Upon a motion by Mr. Faccenda, seconded COMMISSION APPROVED THE RELEASE OF <br />by Mr. Donoho and unanimously carried, the LIABILITY UNDER GROUND LEASE. (1ST <br />Commission approved the Release of SOURCE /MARRIOM <br />Liability under Ground Lease. (1st <br />Source /Marriott) <br />4 <br />