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t <br />• South Bend Redevelopment Authority <br />Regular Meeting -July 17, 1996 <br />b. Authority approval requested for signing of letter for Mellon Bank <br />concerning Taxable Lease Rental Revenue Bonds of 1993. <br />Mrs. Kolata explained that when Society Bank became KeyBank, the trust <br />department changed over to Mellon Bank for the bond payments. As the <br />Redevelopment Commission and Authority have sold land in the Corporate Park <br />and Toll Road Industrial Park, we gave Mellon Bank money to set aside to defease <br />a portion of the bonds. Instead of defeasing bonds Mellon Bank bought $150,000 <br />worth of bonds and retired them. The lease payment as of July 28 has therefore <br />been reduced by $5,550. The signing of the letter reduces the lease payment the <br />Commission will make to the Redevelopment Authority on July 28, 1996 and <br />thereafter. The letter also authorizes Mellon Bank to send out a solicitation to <br />bond holders to see if they are interested in selling their bonds. <br />Upon a motion by Mr. Gammage, seconded by Mr. Wroblewski and unanimously <br />carried, the Authority approved the signing of the letter from Mellon Bank <br />concerning Taxable Lease Rental Revenue Bonds of 1993. <br />• c. Authority approval requested for Resolution No. 108 amending Declaration <br />of Protective and Restrictive Covenants of the Blackthorn Corporate Center <br />and Blackthorn Corporate Center Development Guidelines. <br />Mrs. Kolata noted that Resolution No. 108 amends the Declaration of Protective <br />and Restrictive Covenants of the Blackthorn Corporate Center and Blackthorn <br />Corporate Center Development Guidelines to provide one area where a <br />Conference and Catering hall will be allowed. This use will be restricted to the <br />area where the Blue Heron at Blackthorn will be built. Both the Redevelopment <br />Authority and Commission along with the other land owners will need to vote on <br />the changes. <br />Upon a motion by Mr. Gammage, seconded by Mr. Wroblewski and unanimously <br />carried, the Authority approved Resolution No. 108 amending Declaration of . <br />Protective and Restrictive Covenants of the Blackthorn Corporate Center and <br />Blackthorn Corporate Center Development Guidelines. <br />4. CLAIlVIS -There were no claims. <br />5. NEXT MEETING DATE: <br />• The next meeting of the Redevelopment Authority is scheduled for Wednesday, <br />-2- <br />