HomeMy WebLinkAbout09/27/1979 Special Mtg Board of Public Works MinutesSPECIAL MEETING
SEPTEMBER 27, 1979
A special meeting of the Board of Public Works was convened at
3:00 p.m. on Thursday, September 27, 1979 by Temporary Chairman
Peter H. Mullen, in the absence of President Patrick M. McMahon,
with Mr. Mullen and Mr. Brunner present.
Mr. Mullen announced that the purpose of the special meeting is
the conveyance of certain improvements in the First Bank Center
project by resolution of the Board. Mr, Brunner explained that
the resolution transfers the public improvements in the First
Bank Center project to FBT Bancorp, Inc. and RAHN Properties II,
the private developers of the project, pursuant to the opinion of
the bond counsel that it is necessary to convey the public
improvements for valuable consideration in order to guarantee the
tax - exempt status of the industrial development bonds which are
being sought. The conveyance by which these improvements are being
transferred makes clear that the City of South Bend continues to
have an interest in the improvements insofar as the public will
have reasonable access to the atrium, garage and walkway. That
reasonable access will insure that those portions which were con
structed with public money continue to have a- public function.
Mr. Mullen made a motion that the Board of Public Works adopt
Resolution No. 23, 1979 conveying the public improvements in the
First Bank Center Project to FBT Bancorp, Inc. and RAHN Properties
II, subject to the approval of the Common Council. Mr, Brunner
seconded the motion and it carried.
RESOLUTION NO. 23, 1979
WHEREAS, construction has commenced on a multi -use complex
consisting of an office building, a first -class hotel, an enclosed
atrium interconnecting the various structures, an all - weather garage,
and an enclosed walkway to the Century Mall, all of which improvements
will be located in an area bounded by Colfax Avenue on the North,
St. Joseph Street on the East, Washington Street on the South and
Michigan Street on the West, in South Bend, Indiana; and
WHEREAS, the City of South Bend has received approval from the
United States Department of Housing and Urban Development under
Title I of the Housing and Community Development Act of 1977 for an
Urban Development Action Grant in the amount of $7,600,000.00 for
construction of the public improvements in the project, to -wit, the
garage, atrium and walkway; and
WHEREAS, the successful completion of the project is in the best
interests of the citizens and taxpayers of the City of South Bend,
Indiana, in that the project will foster additional permanent jobs
in the community, will expand the tax base of the City, and will
promote additional economic development throughout the community; and,
WHEREAS, the Board of Public Works desires to convey the public
improvements to be located in the multi -use complex to FBT Bancorp,
Inc. and RAHN Properties II, the developers of the project, for
valuable consideration thereby relieving the City of the costs
associated with the maintenance and operation of such improvements
while making such improvements subject to property taxation; and
WHEREAS, the Board of Public Works wishes to guarantee reasonable
access to and use of the public improvements to the general public
for such time as the developers shall own such improvements; and
SPECIAL MEETING
205
SEPTEMBER 27, 1979
WHEREAS, this conveyance is deemed necessary by bond counsel
for the project in order to preserve the tax - exempt status of
the industrial development bonds which the developers have applied
for; and
WHEREAS, such conveyance is authorized by State law (I.C.
18- 1- 1- 5.2(d) ).
NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works of
the City of South Bend, Indiana as follows:
1. That it agree to convey the public improvements to be
constructed in the multi -use project, to -wit, the garage, atrium
and walkway to FBT Bancorp, Inc. and RAHN Properties II subject
only to receiving authorization for such agreement to transfer
from the Common Council of the City of South Bend,
Adopted this 27th day of September, 1979.
BOARD OF PUBLIC WORKS
s/ Peter H. Mullen
s/ Thomas J. Brunner, Jr.
ATTEST:
s/ Patricia DeClercq, Clerk
There being no further business to come before the Board,
motion made by Mr. Mull
the special meeting adj
ATTEST:
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Patricia DeClercq, Clerk
upon