2003-03-13 Redevelopment Authority Minutes

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The South Bend Redevelopment Authority March 12, 2003 Meeting Minutes Mr. Rock said the reimbursement to Century Center comes from the Capital Improvement Project ($606,246.16) bonds. This money had to be spent by December 31, 2002. There was $19,812. left. As Liz Rowe looked at some of the claims that were already done she noticed this one, which was a capital improvement claim that was paid by the Century Center. So, we would like to reimburse Century Center for this. Mr. Washington asked what budget the money would revert to if it wasn't used. Mr. Rock said we get interest charges and fees on it. Mr. Alvarez said he would like evidence next meeting that this has been approved by Mr. Inks. Upon a motion by Mr. Alvarez, seconded by Mr. Washington, .the Authority approved the claims as presented. 5. STAFF REPORT ON SOUTH BEND CHOCOLATE EXPANSION Mr. Rock said the South Bend Chocolate. Cafe wants to expand 1,680sft to the north. The Authority asked how this would impair our bond and Cheryl Greene asked Baker and Daniels Law Firm. Attorney Randy Rompola said it must meet the private use test and the private payment test. The private use test- says. the expansion would have to take over 33,600sft to go over the private use test. The additional rent that will be gained by the expansion will be around $90./month. So, we pass both test. The Chocolate Cafe has been a real catalyst for the whole block downtown. It has taken a lot of time to check out easements, title work, and bond work but we have been trying to push this along. In the end, they will be happy once they can do their expansion. 6. NEXT MEETING DATE: April 2, 2003 7. ADJOURNMENT There being no further business to come before the Redevelopment Authority the meeting was adjourned at 2:18 p.m. j~~- Cleo Washington, Vice-President ~~'~ Owen Rock, Assistant-Director • H:\WPDATA\AUTHORTY\401203.min.wpd