Approving a lease for certain Pubic improvements between South Bend Redevelopment

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SOOT$ 8�\\\11 City of South Bend VI} Joseph E. Kernan, Mayor li'' 1865 Department of Economic Development Jon R. Hunt Ann E. Kolata Executive Director Deputy Executive Director July 7, 1992 Mr. Steve Luecke South Bend Common Council 4th Floor, County-City Building South Bend, IN 46601 RE: An Ordinance Approving a Lease for Certain Land and Public Improvements Between the South Bend Redevelopment Authority and South Bend Redevelopment Commission Dear Mr. Luecke: I am attaching for filing the above-referenced ordinance, approving the lease of public improvements in the Airport Economic Development Area. The public improvements comprise Blackthorn Golf Course and associated facilities, including a clubhouse, and maintenance building, to be constructed on land owned by the Redevelopment Authority. As I believe you know, the proposed 19-hole, public play golf course is being constructed as a catalyst to and component part of office and industrial development proposed for the Area. The Council is being asked by this ordinance to approve the 20-year lease and the maximum lease rental of $895,000. It is anticipated that semiannual payments over the term of the lease will run from slightly over $360,000 to no more than $895,000. Your favorable consideration is requested, Please call if I can answer any questions. Sincerely, 1 i.e.4 on Hunt ✓' Executive Director JPM/j l Enclosure 1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9021 Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights Ann Kolata & Business Assistance Kathryn Baumgartner Management Cynthia Love-Bush 284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355 284-9335 284-9475 284-9335