1993-01-21 Minutes - Laserfiche WebLink

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• There were a number of projects funded through this bond issue. Last fall the Lease was amended to add four properties to the list of properties to be acquired with these bond fundsand then rehabilitated. We have only proceeded acquiring with three of those and do not intend to buy the fourth property. This amendment takes the fourth property out of the lease. Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously carved, the Authority approved the Forth Amendment to Lease with the South Bend Redevelopment Commission for property located in the South Bend Central Development Area. (SBCDA Public Improvement Project) i• b. AuthoritX,~roval reauested for Declaration of Substantial Completion for vroperty located in the South Bend Central Development Area. (SBCDA Public Improvement Project) Ms. Manier explained that this Declaration is also related to the 1990 TIF bond for public improvements in the SBCDA. It states that we have substantially completed all activities undertaken and funded with the 1990 bond, including the construction of the riverwalk, Madison. Center- Walkway, the Morris Civic Plaza improvements, some sidewalk improvements downtown, and acquisition in Monroe Park. There are a few minor details to finishwith the Monroe Park acquisitions and some. landscaping in Monroe Park and for the Madison Center walkway, .which will be completed in the spring. By declaring the projects substantially complete, we can begin to make lease payments on the bond. The Declaration of Substantial. Completion will be transferred to the Trustee to verify that we have done what we said we would do with the proceeds. Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanmously carried, the Authority approved the Declaration of Substantial Completion for property located in the South Bend Central Development Area. (SBCDA Public Improvement Project) c. Authori~ designation of siQnator_y for documents related to replatting parcels in the Asport Economic Development Area. Mrs. Kolata explained that we are having a replat done in the Toll Road Industrial Park portion of the Airport Economic Development Area. The Authority has leased the land to the Redevelopment Commission which has accepted a proposal to convey the property,via a .prepaid 20 year lease/purchase, to Gainey Realty and Investments. The replat will add the conveyed parcel to the existing Gainey property.. By designating the Director of Redevelopment as the Authority's signatory, those replats can be signed as they are completed. -2-