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• <br />June 5, 2008 <br />1:30 p.m. <br />Presiding: Jose Alvarez <br />SOUTH BEND REDEVELOPMENT AUTHORITY <br />SPECIAL MEETING <br />1308 County-City Building <br />227 West Jefferson Boulevard <br />South Bend, IN 46601 <br />The June 5, 2008 Special Meeting of the Redevelopment Authority was called to order at <br />1:34 p.m. by its President, Jose Alvarez. There was a quorum present.. <br />1. ROLL CALL <br />Members Present: Mr. Jose Alvarez, President <br />Ms. Carolyn V. Pfotenhauer, Vice President <br />Member Absent: Mr. Ray Thomas, Secretary <br />Redevelopment Staff: Ms. Cheryl Greene, Legal Counsel <br />Mrs. Jenny Hullinger, Recording Secretary <br />Ms. Jennifer Laurent, Economic Development Specialist <br />Others Present: Mr. Larry Metiever, Legal Counsel <br />Mr. Randy Rampola, Baker & Daniels <br />• <br />2. APPROVAL OF MINUTES <br />a. Approval of the minutes of May 21, 2008 <br />Upon a motion by Carolyn Pfotenhauer, seconded by Jose Alvarez, and <br />unanimously carried, the Authority approved the Minutes of the Regular Meeting <br />of May 21, 2008. <br />3. NEW BUSINESS <br />a. Authority approval requested for Parking Garage Lease with Kite Realty <br />Construction, LLC <br /> <br />Mr. Rampola said they have discussed the lease with Kite's attorneys and there is <br />one large issue that is not settled yet: the Casualty insurance and how the casualty <br />insurance proceeds will be used. Although they had a lengthy discussion. this <br />morning the issue is not settled so no action can be taken on this until that issue is <br />settled. Mr. Rampola said he could tell the Authority what the lease is meant to <br />do. The financing that was done for Eddy Street Commons was between the <br />Authority and the Commission. The primary use of the bond proceeds will be to <br />build a parking garage, approximately $17M of the net $36M. The remainder of <br />the proceeds will be used for traditional public improvements in and around Eddy <br />Street Commons: the roadways, sidewalks; etc. The parking garage is the subject <br />