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HomeMy WebLinkAboutSM 12-26-85December 6:15 p.m. Presiding SOUTH BEND REDEVELOPMENT COMMISSION SPECIAL MEETING 1985 1200 County -City Building 227 W. Jefferson Boulevard Eficer: Mr. Roman Piasecki South Bend, Indiana 46601 Secretary 1. ROLL CALL Members Present: Members Absent: Legal Counsel: Redevel anent Staff: News Media: 2. NEW a. Mr. Roman J. Piasecki, Secretary Mr. Michael Doncho, Assistant Secretary Mr. Sandy Combs, Member Mr. F. Jay Nimtz, President Ms. Paula Auburn, Vice President Ms. Eugenia Schwartz Mr. Jon R. Hunt, Executive Director Ms. Jackie Walorski, WNDU -TV Mr. Carlos Medley, South Bend Tribune Commission discussion and action on';proposal for Parcels E3 -3 and E3 -4 in the South Bend tral Development Area. Mr. Hunt explained that on December 16th the Commission took official action to authorize the President and Secretary to execute a contract for sale of land for Parcels E3 -3 and E3-4 for the Mill Race Tower apartment project. After the December 16th authorization, a contract for sale of land was drawn up with all the requirements, prohibitions and time schedules,'and was sent to the partnership, Mill Race, an Indiana Limited Partnership, who bid on the parcels. The lead person in that partnership was Eugene Conard. Between December 16th and December 23rd it came to the attention of the staff and Commission that the partnership was going to be restructured. Since the Commission awarded the property to the Mill Race, an Indiana Limited Partnership, with Mr. Conard as a general partner, the partnership was going to change. Mr. Conard was not going to be a ge t al partner, but a new general partner wo be designated. Because the partnership South Bend Redevelopment Commission Special Me ting - December 26, 1985 2. NEW BUSINESS (Cont.) a. UOnti.nuect .. . CoDraission authorized the change in participants in Mill Race, an Indiana limited partnership, to delete Eugene Conard and Richard Baransick as general and limited partners, and to accept the addition of Richard R. Blank as general and limited partner as developer of Parcels E3 -3 and E3 -4 in the South Bend Central Development Area with the stipulation and requirement that all other authorizations and requirements connected with the redevelopment of parcels E3-3 and E3 -4 be as authorized by the Commission on December 16, 1985, and to authorize the Secretary and Assistant Secretary to execute a contract for sale of land with respect to Parcels E3 -3 and E3 -4 in the absence of the President and Vice President should that be necessary. Mr. Hunt noted that Mr. Blank's experience has been as both a contractor and as part of a partnership in a range of projects such as Woolland Estates Apartments (140 units) in Michigan City, Tall Timbers Apartments (100 units) in Michigan City, Hammond Apartments (15 units) in Hammond, and Woodland East Apartments (48 units) in Michigan City. He has had a whole range of experience in mul i- family housing. In addition, Mr. Blank is partner in Tonn & Blank, Inc., which is a lar e contracting, engineering and development fi out of Michigan City, Indiana. Mr. Hunt commented that the reason for the pressure as far as the time schedule is that as of January 1, 1986 certain requirements and regulations governing multi - family revenue bonds will be in effect and for all practical purooses would make this type of project not fea ible_ Mr. Hunt further commented, if this project can be moved along, there will be three large scale projects moving on the East Bank that inv lve over 420 housing units. -3- COMMISSION AUTHORIZED THE CHANGE IN PARTICIPANTS IN MILL RACE, AN INDIANA LIMIT- ED PARTNERSHIP, TO DELETE EUGENE CONARD AND RICHARD BARANSICK AS GENERAL AND LIMITED PARTNERS, AND TO ACCEPT THE ADDITION OF RICHARD R. BLANK AS GENERAL AND LIMITED PARTNER AS DEVELOPER OF PARCELS E3 -3 AND E3 -4 IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA WITH THE STIPULATION AND REQUIREMENT THAT ALL OTHER AUTHORIZATIONS AND REQUIRE- MENTS CONNECTED WITH THE REDEVELOPMENT OF PARCELS E3 -3 AND E3 -4 BE AS AUTHOR- IZED BY THE COMMISSION ON DECEMBER 16, 1985, AND TO AUTHORIZE THE SECRETARY AND ASSISTANT SECRETARY TO EXECUTE A CONTRACT FOR SALE OF LAND WITH RESPECT TO PARCELS E3 -3 AND E3 -4 IN THE ABSENCE OF THE PRESIDENT AND VICE PRESIDENT SHOULD THAT BE NECESSARY South Bend Redevelopment Commission Special Me ting - December 26, 1985 2. NEW BUSINESS (Cont.) a. Comtinuea... structure was changing it was deemed necessary by the Comnnission's attorney and staff that a special meeting be called on December 23rd to review documentation that was requested from the new partner in the Mill Race partnership. Requested among other things was a series of exhibits that are standard to the bid documents that range from a proposal form, a redeveloper's affidavit of non - collusion, redeveloper's statement for public disclosure, and a redeveloper's statement of qualifications and financial responsibility, which are all standard items. In addition to that the Commission required that 10% of the purchase price be forwarded in the form of a certified check. At the December 23rd meeting, because the general partner and other mnbers involved in the project were scattered around the United States, that documentation di not arrive. While the Commission discussed in Executive Session the disposition of real estate and convened the public meeting on December 23rd, they were unable to take action because of the lack of information and documentation required. Over the holidays the staff was able to pull together information that was requested and received the certified check. During today's Executive Session various aspects of the project and documents were reviewed to see if the criteria were met. It was determined by the staff and recommended to the Commission that all the criteria that we e outlined had been met on the documents su 'tted. Mrl Hunt further noted that this is the first in the process of seeing this development pen. There are no assurances that the ject is complete. Like any development ject that the Commission is involved in, re is a whole series of complex financial nsactions that are going to have to be pleted. However, if a step is not taken by Commission today, the door is closed on project. ste p Up n a motion made by Mr. Donoho, seconded by Mr Combs and unanimously carried, the -2- South BendIRE Special Me ti 3. NEXT 4. elopment Commission - December 26, 1985 MEETING The ne Regular Meeting of the Commission Will - be held on Thursday, January 2, 1986 at 10:00 .m. There heing no further business to come before the Coirmission, Mr. Combs made a motion that the me ting be adjourned. Mr. Donoho seconded the motion and it was unanimously carried. The me ting was adjourned at 6:30 p.m. Roman J. P NEXT COMMISSION MEETING F • * uu10 — Secretary on R. Hunt, Executive Director -4-