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• <br /> • <br /> :44'#-. <br /> $pUT?l CITY t7 SOUTH it El�l D <br /> ri '' �0\ JOSEPH E. KERNAN, MAYOR <br /> o U I.`\\\\PEACE i�..- <br /> \\ %, e� DEPARTMENT OF ECONOMIC DEVELOPMENT <br /> • " 1200 COUNTY-CITY BUILDING SOUTH BEND, INDIANA 46601 219/284-9371 <br /> JON R. HUNT <br /> EXECUTIVE DIRECTOR <br /> ANN KOLATA <br /> DEPUTY EXECUTIVE DIRECTOR <br /> May 3 , 1988 <br /> Members of the Common Council <br /> 4th Floor, County-City Building <br /> South Bend, IN 46601 <br /> Dear Council Members: <br /> The attached ordinance approves a lease between the South Bend <br /> Redevelopment Authority and the South Bend Redevelopment Commission <br /> for the St . Joseph/Wayne Parking Facility. <br /> The lease establishes a maximum annual rental payment of <br /> $520, 000 . This amount is an estimate and will be lowered after we <br /> receive bids for the construction of the garage. The Commission <br /> will use three sources of funds to make the lease payments: net <br /> operating revenue from the garage, the UDAG repayments from One <br /> Michiana Square and excess TIF funds not needed for debt service on <br /> the TIF bonds. <br /> I will be happy to answer any questions you have regarding the <br /> garage or its financing and ask that you approve this Ordinance. <br /> Sincerely, <br /> / <br /> Ann E . Kolata <br /> Deputy Executive Director <br /> Attachment <br /> AEK/ml <br /> 4/p <br /> REDEVELOPMENT COMMUNITY DEVELOPMENT HOUSING REHABILITATION HUMAN RIGHTS FISCAL 8 PROGRAM <br /> ANN KOLATA E. BUSINESS ASSISTANCE KATHRYN BAUMGARTNER MARY E. ALLEN MANAGEMENT <br /> 284-9371 DONALD INKS - 284-9475 - 284-9355 ELIZABETH LEONARD <br /> 284-9335 - 284-9335 <br />