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• <br />The South Bend Redevelopment Authority <br />June 18, 2003 Meeting Minutes <br />Redevelopment Commission. <br />b. Authority approval requested for Resolution No. 153 a Joint Resolution of the South <br />Bend Redevelopment Authority and South Bend Redevelopment Commission <br />indicating intent to issue bonds and that certain preliminary costs be reimbursed <br />from the proceeds of said bonds. <br />• <br />Mr. Rock said the bond is not to exceed,the amount of $22,000,000. for capital <br />improvements in the downtown area, which includes the Wayne Street Parking <br />Garage, the Main Street Parking Garage, Jefferson Street Parking Garage. Walker <br />Parking will do a study of our parking structures, surface parking and on street <br />parking for us. Another project is the possible purchase of the Wells Fargo Parking <br />Garage, some street scape improvements around the Hotel LaSalle, acquisition and <br />demolition of some properties on Main Street and Jefferson Street, acquisition and <br />demolition of some properties on Main Street and Western Avenue, looking at <br />Sycamore Street properties and possibly constructing a new parking facility. Several <br />properties around St. Louis, East Washington and Hill Street will be looked at for <br />the EHL Project. We may construct a pedestrian crossing tight on Sycamore Street. <br />The bond may also be used for the acquisition, construction, improvement and <br />equipping of a new facility to be occupied by Studebaker National Museum on West <br />Washington Street.. We will be paying off the debt service on the three current. <br />bonds. The debt service on the new bond will equal the debt service that we have <br />now, which is $1.4 million. If it does exceed this, anything over that $1.4 million <br />will be paid by other city revenues, whether it be COIT or General Fund. It will be a <br />lease revenue bond. The projects will be done in the next two to three years. <br />Upon a motion by Mr. Washington, seconded by Ms. Pfotenhauer, and unanimously <br />carried, the Authority approved Resolution No. 153 a Joint Resolution of the South <br />Bend Redevelopment Authority and South Bend Redevelopment Commission <br />indicating intent to issue bonds and that certain preliminary costs be reimbursed <br />from the proceeds of said bonds. <br />4. NEXT MEETING DATE: July 2, 2003 <br />5. ADJOURNMENT <br />There being no further business to come before the RedeGejQpment Authority the meeting <br />was adjourned at 1:50 p.m. ~~ , 11~~ <br />U <br />Cleo Washington, Vice-President <br />H:\W PDATA\AUTHORTY\061803.min.wpd <br />~'"'"? <br />Owen Rock, Assistant-Director <br />