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South Bend Redevelopment Commission <br />Regular Meeting -December 5, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />(1) continued... <br />addition to a usual fee of $96,000. Ms. <br />Leonard responded that in 2007 the city only <br />paid them $84,000, so it is making up for the <br />shortage in 2007. We still owe them $96,000 <br />in 2008. <br />Mr. Varner noted that the $651,500 shown <br />transferred from TIF for Debt Service is for a <br />bond payment. He asked if there are five <br />more years before the bond is paid off. Mr. <br />Inks noted that in 2013 we will pay off the <br />bond with a half payment. Mr. Varner stated <br />again that he would like to see Blackthorn <br />Golf Course sold after the bond is paid off. <br />Ms. Jones opened the Public Hearing on <br />Substitute Resolution No. 2524 for whoever <br />wished to speak. There was no one who <br />wished to speak Ms. Jones closed the Public <br />Hearing for whatever action the Commission <br />wished to take. <br />(2) Approval of Substitute Resolution <br />No. 2524. <br />Upon a motion by Ms. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Substitute Resolution <br />No. 2524 determining to transfer monies <br />among various accounts within Fund 619 for <br />the purpose of defraying the expenses of <br />certain local public improvements for the <br />fiscal year beginning January 1, 2008 and <br />ending December 31, 2008 including all <br />outstanding claims and obligations, fixing a <br />time when the same shall take effect. <br />PUBLIC HEARING ON SUBSTITUTE RESOLUTION <br />No. 2524 <br />COMMISSION APPROVED SUBSTITUTE <br />RESOLUTION NO. 2524 DETERMINING TO <br />TRANSFER MONIES AMONG VARIOUS ACCOUNTS <br />WITHIN FUND 619 FOR THE PURPOSE OF <br />DEFRAYING THE EXPENSES OF CERTAIN LOCAL <br />PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR <br />BEGINNING JANUARY 1, 2008 AND ENDING <br />DECEMBER 31, 2008 INCLUDING ALL <br />OUTSTANDING CLAIMS AND OBLIGATIONS, <br />FIXING A TIME WHEN THE SAME SHALL TAKE <br />EFFECT <br />4 <br />