Laserfiche WebLink
South Bend Redevelopment Commission Regular Meeting – November 10, 2022 <br /> <br />Upon a motion by Commissioner Wax, seconded by Commissioner Sallie, the <br />motion carried unanimously, the Commission approved Third Amendment to <br />Redevelopment Supervisory Services Agreement submitted on Thursday, <br />November 10, 2022. <br /> <br />4. Fifth Amendment to Engineering Services Agreement <br />Mr. Bauer presented the Fifth Amendment to the Engineering Services <br />Agreement. This agreement is for the Engineering Services Agreement as you <br />know when the Commission approves the development agreement and <br />appropriates tax increment financing funds to support a project that is the start of a <br />much longer process in which the engineering team works with the developers to <br />identify which expenses are TIF eligible. Zach Hurst is one of the engineers in this <br />agreement, however, this is really a team effort with other engineers that are very <br />involved with the Redevelopment Commission. This is the standard agreement for <br />their services. This has increased by $2,000 and we assume the 2% increase that <br />happens annually. If it is different, we will adjust accordingly. Commission <br />approval is requested. <br /> <br />Upon a motion by Commissioner Wax, seconded by Secretary Warner, the <br />motion carried unanimously, the Commission approved the Fifth Amendment to <br />Engineering Services Agreement submitted on Thursday, November 10, 2022. <br /> <br />5. Budget Request (2023 Non-Project Budget) <br />Mr. Bauer presented Budget Request (2023 Non-Project Budget Request). This is <br />a standard budget request that we bring annually to the Commission which would <br />fund the non-project requests. These are for non-development agreement <br />expenditures coming out of the different tax increment financing districts. <br />Generally, this is like the professional services, which we just covered in the <br />previous two agreements as well as an ongoing professional services agreement <br />with the legal department and then debt service primarily. <br /> <br />There are no substantial changes from last year except the redevelopment general <br />fund; last year there was only a $4,500 budget request for professional services. <br />Now there is a request for a $763,000 interfund transfer out for debt service and <br />that is for the hotel motel tax revenues that are transferred out of debt service on <br />the Morris and Potawatomi Zoo bonds that were issued in 2022. <br /> <br />The other item to notice is a decrease of $19,000 in the debt service interest and <br />fees out of River East residential as we've had some debt service roll off this year. <br /> <br />Commissioner Wax asked Mr. Bauer to speak to the river west professional <br />services. <br /> <br />Mr. Bauer stated that would cover a portion of the professional services <br />agreements for the Engineering services agreement. The Legal Services <br />agreement and the DCI staff agreement. <br /> <br />