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South Bend Redevelopment Commission <br />Regular Meeting — January 16, 2014 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(1) continued... <br />public hearing was convened by David Relos at the appointed time and place. No one <br />appeared. The meeting was adjourned. <br />The South Bend Career Academy project was previously approved by the Commission. The <br />Academy is now asking for the Commission's approval of this bond issuance financing. <br />Staff recommends approval. No funds are being committed by the Commission. It is <br />simply certifying that the project the bonds would finance is acceptable to the local <br />jurisdiction. <br />Ms. Schey asked if this item will also come before the Common Council. Mr. Meteiver <br />responded that it would not. <br />Mr. Varner noted that the Commission provided some startup funds for the Career <br />Academy, which may be the reason for the Commission's involvement at this time. <br />Upon a motion by the Commission approved Resolution No. 3198 approving $4,000,000 of <br />Qualified Zone Academy Bonds (Direct Pay), Series 2011 and 2013 (South Bend Career <br />Academy, Inc.) for purposes of Section 147(f) of the Internal Revenue Code of 1986. <br />(2) Ratification of Certificate of Completion for James and Sandra McCune (225 W. <br />Garst) <br />Mr. Relos noted that in 2004 the Commission sold this property to Mr. McCune and <br />relocated his business to this location. There is always a development agreement for any <br />property the Commission sells spelling out any obligations the purchaser has. Mr. McCune <br />has met all of the obligations of the development agreement. This Certificate of completion <br />should have been issued many years ago, but has just come to our attention now that it was <br />not. Mr. Relos signed the document prior to the meeting to meet the needs of the McCunes <br />and that action now needs to be ratified. Staff recommends approval. <br />Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the <br />Commission ratified the Certificate of Completion for James and Sandra McCune (225 W. <br />Garst) <br />(3) Ratification of Post - Closing Undertaking related to Curtis Products, Inc. purchase of <br />former Bosch facility. <br />Mr. Relos noted that we have now closed with Curtis Products on the purchase of the Bosch <br />facility. In doing the survey of the property it came to light that there was the stub of an <br />alley surrounded on all sides by Bosch property. Curtis Products wants that alley stub <br />