1997-08-14 Redevelopment Authority Minutes

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r • South Bend Redevelopment Authority Special Meeting -August 14, 1997 Mr. Ladewski asked what was the proposed use of the house located at 528 S. Rush Street. Ms. Kolata stated that this is a single-unit, residential propcrty which is leased out to a family. Mr. Ladewski asked if there's a future purpose for the property. Ms. Kolata stated that the future use of the house is for residential use. Anne Bruneel stated that the Redevelopment Authority will own the house as long as the bonds are outstanding, then the house will be transferred to the Redevelopment Commission. At that time it will probably be sold to the Housing Development Corporation. Upon a motion by Mr. Ladewski, seconded by Mr. Gammage and carried, the Authority approved the Leasehold Mortgage and Security Agreement with the Housing Development Corporation of St. Joseph County, Inc. for the use of HOME funds to rehabilitate the property located at 628 S. Rush Street in the South Bend Central Development Area. b. Authority approval requested for Agreement and Release of Easement in the Airport Economic Development Area. (St. Joseph Valley Parkway/1~limtz Parkway/Toll Road) . Ms. Kolata stated that this Agreement and Release of Easement relates to an easement that exists on property owned by the Redevelopment Authority located at the intersection of the St. Joseph Valley Parkway/Nimtz Parkway. There is a nineteen acre section of land that has an easement on it with Barclay Corporation for billboards and access to those billboards. At the time the Redevelopment Authority purchased the property there were three billboards located on it. In order to do the interchange work that is being funded through a state grant, one of the billboards needed to be removed and the easement for that location needed to be released. The Agreement releases one of the three billboard locations and modifies the access easement to follow the new perimeter of the land as opposed to the old perimeter. It has been executed by the Barclay Corporation. The Agreement and Release of Easement requires the Redevelopment Authority's approval before it can be recorded. : Upon a motion by Mr. Ladewski, seconded by Mr. Gammage and carried, the Authority approved the Agreement and Release of Easement in the Airport Economic Development Area. (St. Joseph Valley Parkway/Nimtz Parkway/Toll Road) c. Authority approval requested for Resolution No. 115 regarding the use of surplus bond proceeds from the Redevelopment Authority Taxable Lease Purchase Revenue Bond (Coveleski Stadium Refinancing). • -2-