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• The South Bend Redevelopment Authority <br />April 5, 1999 Meeting Minutes <br />Mrs. Kolata stated that transfer of property in Resolution No. 134 is for <br />property in the Blackthorn Corporate Park, which was purchased by the <br />Redevelopment Authority with a bond issue. Cornerstone LLC has a contract to <br />purchase two parcels of land from the Redevelopment Commission. This is the <br />second parcel. Resolution No. 134 transfers the property to the Redevelopment <br />Commission so they can sell it to Cornerstone LLC. Cornerstone LLC plans to <br />construct an 11,000 sft office building, which will overlook the golf course. <br />Upon a motion by Mr. Alvarez, seconded by Ms. Pfotenhauer, and <br />unanimously carried, the Authority approved the transfer of real property <br />from the South Bend Redevelopment Authority to the South Bend <br />Redevelopment Commission. <br />4. CORRESPONDENCE <br />a. Investment Authorization for the Morris Performing Arts Center <br />• bond funds. <br />b. Investment Authorization for the Hall of Fame bond funds. <br />Ms. Pfotenhauer asked that the record show that these Investment <br />Authorizations have been received and will be acknowledged by the <br />Redevelopment Authority's President. <br />Mr. Alvarez asked if there was a minimum interest rate on this U.S. Treasury <br />bill. Mrs. Kolata replied there was not a minimum rate, but there are some <br />limitations on what can be earned on the interest rate. <br />5. CLAIMS <br />Claims submitted for approval April 5, 1999. <br />MORRIS LEASE RENTAL REVENUE BONDS OF 1998 <br />Norwest Bank Annual administration fee $3,250.00 <br />• H:\WPDATAWUTHORTY\040599.MIN 2 <br />