01-08-90 Human Resources & Economic Development

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Human Resources and Economic Development Committee +' 1-8-90 Page 2 demolition of the chimney for an estimated cost of $275, 000; the Viewing Park Improvements for an estimated cost of $165,203 ; a variety of curb and sidwalk improvements in the downtown area for an estimated cost of $91, 000; and Monroe Park acquisition for an estimated cost of $770, 000. Mrs. Kolata noted that the Monroe Park Acquisition was basically divided into three proposed categories namely acquisition of 8 parcels that are vacant land, acquisition of 11 properties that have houses and the demolition of those houses, and acquisition of 11 parcels with houses that would be rehabed. She provided a summary of the TIF project for 1990 (copy attached) and Council Member Luecke provided copies of the relevant pages of the South Bend Redevelopment Commission minutes of November 17th namely pages 17 through 24 (copy attached) . Mrs. Kolata noted that the lease incorporates a graduated lease payment with maximum lease payment to be $749, 000. She also noted that if the Council would act favorably on the proposed Bill, that the Board of Public Works would go forward with construction bids before the bond is sold. In response to a question raised by Council Member Luecke, Mrs. Kolata noted that the total project cost would be $4,895, 000.00 which includes capitalized interest and financing charges. The project cost without those expenses would be $3,300, 000. 00 with this amount including the supervisory costs and engineering. Council Member Luecke also had several questions, the first with regard to whether the proposed parking would be straight in parking. Mrs. Kolata noted that it would be since there is better ingress and egress for the driver as opposed to angle type parking. Council Member Duda voiced concern with regard to straight in parking and believes that is was more dangerous that the angle type parking. It was also noted that the property in front the Morris Civic was city property, however due to an agreement with 1st Source Bank that any proposed changes would have to be approved by the bank. Mrs. Kolata noted that ongoing negotiations with regard to the proposed upgrades were taking place. In response to a question raised by Council Member Luecke it was noted that the proposed improvements to the Rink Riverside property would require Rink Riverside donating property to the Redevelopment Commission before such improvements could be made. Council Member Coleman had a similar question with regard to the proposed park property improvements. It was noted that the Park Department would be required to deed over to the Redevelopment Authority for the life of the bond the various properties involved in order for such work to take place.