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South Bend Redevelopment Commission <br />Special Meeting -April 11, 2008 <br />6. NEW BUSINESS (CONT.) <br />B. Northeast Neighborhood Development Area <br />(1) continued... <br />University of Notre Dame is the owner of <br />record. <br />Mr. Inks responded that Notre Dame will sell <br />the property to Kite. Kite will lease it to the <br />Redevelopment Authority which has already <br />leased it to the Redevelopment Commission. <br />The Redevelopment Commission is leasing <br />the site and garage "to be constructed". That <br />is what we are advertising at this time, <br />assuming that all of those land transactions <br />take place and we have a leasable interest in <br />the property. <br />Mr. King noted that the purpose of the lease <br />is to have a conduit for funds to service debt <br />payments on the bond used to construct the <br />parking garage. <br />Mr. Peczkowski asked if we know the <br />amount Notre Dame will sell the property to <br />Kite for. Mr. Inks responded that we do not. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2448 <br />approving the Fair Market Value of Property <br />in the Northeast Neighborhood Development <br />Area. (Eddy Street Commons Parking <br />Garage) <br />3. NEXT COMMISSION MEETING <br />The next meeting of the Redevelopment Commission is <br />scheduled for Friday, April 18, 2008 at 10:00 a.m. <br />COMMISSION APPROVED RESOLUTION NO. 2448 <br />APPROVING THE FAIR MARKET VALUE OF <br />PROPERTY IN THE NORTHEAST NEIGHBORHOOD <br />DEVELOPMENT AREA. (EDDY STREET COMMONS <br />PARKING GARAGE <br />NEXT COMMISSION MEETING <br />4 <br />