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South Bend Redevelopment Commission <br />Regular Meeting - July 19, 1996 <br />6. NEW BUSINESS (Cont.) <br />g. continued.... <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Hunt and unanimously carried, the <br />Commission approved the letter from Mellon <br />Bank, F.S.B. related to lease payments for the <br />Airport Taxable Lease Rental Revenue Bonds. <br />h. Commission appointment of initial Board of <br />Directors for Owner's Association at <br />Blackthorn. <br />Mrs. Kolata noted that the covenants for the <br />Blackthorn Corporate Park calls for a Board of <br />Directors of three members. After the initial <br />term, each director will have a three year term <br />but the initial board is set up with one year, two <br />year and three year initial terms. The Staff <br />recommends to the Commission that the <br />following people be appointed to the Board: <br />John Sullivan Jr. —for a three year term; Jack <br />Young —for a two year term; Paula Auburn—for <br />a one year term. <br />Mrs. Kolata noted that Mr. Sullivan was the <br />first person to purchase property from <br />Redevelopment in the Blackthorn Area. Mr. <br />Young is doing a multi - building development, <br />and the Commission still owns a large amount <br />of land in the Blackthorn Corporate Park. If the <br />Commission makes these appointments, the next <br />step would be to have the board meet. They <br />would need to incorporate and the Commission <br />would expect the Directors to be incorporators <br />and get the organization up and running. <br />Upon a motion by Mr. Hunt, seconded by <br />�'1 <br />COMMISSION APPROVED THE LETTER FORM <br />MELLON BANK F.S.B. RELATED TO LEASE <br />PAYMENTS FOR THE AIRPORT TAXABLE <br />LEASE RENTAL REVENUE BONDS <br />