HomeMy WebLinkAboutRM 01-22-88January 22,
10:00 a.m.
Presiding O
1. ROLL
2.
0
SOUTH BEND REDEVELOPMENT COMMISSION
REGULAR SCHEDULED MEETING
1988 1200 County -City Building
227 W. Jefferson Boulevard
ficer: Mr. F. Jay Nimtz South Bend, Indiana 46601
President
Members Present: Mr.
Ms.
Mr.
(part of meeting) Mr.
Members Absent: Mr.
Legal C unsel: Ms.
F. Jay Nimtz, President
Paula N. Auburn, Vice - President
Roman J. Piasecki, Secretary
Sandy Combs, Assistant Secretary
Michael Donoho
Carolyn Pfotenhauer
Staff: Mr. Jon R. Hunt, Executive Director
Mrs. Ann E. Kolata, Deputy Executive Director
Mrs. Cheryl Phipps, Office Manager
News Media: Ms. Jeanne Derbeck, South Bend Tribune
Mr. Norm Stangland, WSBT -TV
Others:
APPROVAL OF MINUTES
Upon a motion made by Mr. Piasecki, seconded COMMISSION APPROVED THE MINUTES
by Ms. Imburn and unanimously carried, the OF THE REGULAR MEETING OF FRIDAY,
minutes of the Regular Meeting of Friday, JANUARY 8, 1988
January 8, 1988 were approved.
Ce]wif", Ia�'f
Upon a motion made by Ms. Auburn, seconded by
Mr. Piasecki and unanimously carried, the
Commission formally approved the claims
submitted January 11 and January 18, 1988
and ordered checks dated January 15 and
January 22, 1988 to be released.
ADMIN 1987
General Fund
Ann Kol to
Zuchell , Hunter & Associates, Inc.
Berreth Oil Co.
Business Comunications Center
C.D. Pu lications
-1-
COMMISSION APPROVED THE CLAIMS
SUBMITTED JANUARY 11 AND JANUARY 18,
1988 AND ORDERED CHECKS DATED
JANUARY 15 AND JANUARY 22, 1988 TO
BE RELEASED
$ 49.19
16.65
2,333.59
18.86
408.00
209.00
South Bend
Redevelopment Commission
Regular Meeting
- January 22, 1988
3. APPROVAL
OF CLAIMS (Cont.)
Duane' s
Signs
Indiana
Bell Communications, Inc.
The Loft
Restaurant
John March
- Petty Cash
Rink Riverside
Printing
S.C.L. Communications
lution No. 829 approving an Addendum
South Bend
Tribune
LeRoy Troyer
& Associates
Ziker Shannon
Catering
TotAl
Admin 1987
T.I.F.
986
Indiana
& Michigan Electric Co.
Parker &
Jaicomo
Total
T.I.F. 1986
T.I.F.
NTEREST
Americam
Fletcher National Bank
T
1 T.I.F. Interest
G
TOTAL
4.
Mr. Nim
z announced that the South Bend Common
Council
has reappointed Commissioner Piasecki
and Commissioner
Combs. They have both been
sworn in
at the City Clerk's office.
5. OLD BUSINESS
There WELs
no old business.
6. NEW BUS
NESS
a. C
ssion approval requested for
Res
lution No. 829 approving an Addendum
Me
Mr;
Ta:
Official Statement dated
y 5, 1988 concerning the City of
Bend Redevelopment District Tax
lent Revenue Bonds of 1988.
Kolata noted that the sale of the
Increment Revenue Bonds was to have
-2-
51.00
296.68
23.53
108.65
144.00
4.65
99.00
467.00
46.40
$ 4,276.20
$ 3.97
1,095.36
$ 1,099.33
$234,381.95
<')IQ 7r,7 AP
COMMUNICATIONS
THERE WAS NO OLD BUSINESS
South Bend
Regular Mee
6. NEW BUS
a. Con
elopment Commission
- January 22, 1988
(Cont.)
taken place January 19. However, one of
the Legal Notices was not printed in the
manner legally required, resulting in a
postponement of the sale until
February 8, 1988.
This resolution approves and authorizes
the distribution of an Addendum to the
Official Statement which provides for a
rescheduled bond sale date of February 8,
1988, and discloses certain legislation
introduced in the 1988 General Assembly.
Additionally, the Addendum approves
supplemental cash flow and revenue
projections.
Upon a motion by Mr. Piasecki, seconded
by Ms. Auburn and unanimously carried,
the ommission approved Resolution
No. B29.
b. Commission approval requested for
Commmity Development Program Contract,
CD88 601, in the amount of $201,000.00
for Redevelopment Administrative costs
related to project mana ement.
Mr. Hunt noted that this is the annual
contract we have with the Community
Development Program to provide money for
the Redevelopment Administration. It
does not, however, provide the total
admi istrative funds for Redevelopment.
The contract and scope of services is the
same as in previous years.
Upon a motion by Ms. Auburn, seconded by
Mr. Piasecki, and unanimously carried,
the ommission approved Community
Deve opment Program Contract, CD88 -601.
7. PROGRESSIREPORTS
COMMISSION APPROVED RESOLUTION
NO. 829
COMMISSION APPROVED COMMUNITY
DEVELOPMENT PROGRAM CONTRACT,
CD88 -601
There were no progress reports. THERE WERE NO PROGRESS REPORTS
Ms. Der ck asked if there has been a
replacement chosen for Commissioner Donoho.
Mr. Nimtz responded that one has not yet been
Ws
South Bend
Regular Me
elopment Commission
- January 22, 1988
7. PROGRESd REPORTS (COnt.)
Ms. Der heck asked if passage of the
legislation being considered by the Indiana
Senate and House of Representatives will
affect our bond sale. Mrs. Kolata responded
that it will effect the increment received.
But, the tax increment revenue projections
presume the loss of the revenue. The bond
issue had been prepared so that the necessary
coverage test is met even with the reduced
revenue Although our tax increment revenue
will be reduced by approximately 200, neither
our existing bonds or the new bond issue will
be jeopardized by this reduction. Mr. Hunt
noted that the Bill will really cut into our
funding and hinder an aggressive redevelopment
program
(Mr. Cor6bs entered the meeting at this point.)
Ms. Der beck asked about the status of the
Raintree Point project. Mr. Hunt responded
that he communicates with the developer on a
weekly basis. There is one remaining step
before fie can close on the construction
financirig. Mr. Stangland asked how long we
could afford to wait. Mr. Hunt indicated that
we would not want to see this construction
season pass without a project. He indicated
that if there was no progress by the next
Commiss on meeting, the staff would consider
making recommendation to the Commission.
8. NEXT COI MISSION MEETING
The ne Regular Meeting of the Redevelopment NEXT COMMISSION MEETING
Commis s on will be Friday, February 12, 1988
at 10:0 a.m.
9. OURMENT
There being no further business to come before ADJOURNMMU
the Co ssion Mr. Combs made a motion that
the meeting be adjourned. Mr. Piasecki
secondeq the motion and the meeting was
adjourn d at 10:15 a.m.
-4-
R. Hunt, "Executivd Director