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Home My WebLink AboutRM 01-26-90January 26, 10:00 a.m. Presiding O 1990 SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING . Mr. F. Jay Nimtz President 1. ROLL CAIL Members Present: NN OF Members Absent: Legal Counsel: Redevel ownt Staff: News M 'a: Others: vrm Mr. Nim and the 1200 County -City Building 227 W. Jefferson Boulevard South Bend, Indiana 46601 Mr. F. Jay Nimtz, President Ms. Paula N. Auburn, Vice President Mr. Roman J. Piasecki, Secretary Mr. Sandy Combs, Assistant Secretary Mr. Michael Donoho Ms. Carolyn Pfotenhauer Mr. Jon R. Hunt, Executive Director Mrs. Cheryl Phipps, Office Manager Mr. Don Porter, South Bend Tribune Mr. Thom Howell, U -93 Mr. Dick Maginot, WSBT -TV Mr. Carter Wolf, Center City Associates Mr. Steve Luecke, South Bend Common Council , announced that the Executive Session held prior to the meeting would be i following adjournment of the Regular Meeting. , asked that item 6.e be deleted from the agenda. There were no objections Ltem was deleted. Upon a motion made by Mr. Piasecki, seconded by Ms. Puburn and unanimously carried, the minutes of the Regular Meeting of Friday, January 12, 1990, were approved. Petroleu m Traders South Bend Tribune ICMA Urban Eand Institute Total 1990 -1- COMMISSION APPROVED THE MINUTES OF THE REGULAR MEETING OF FRIDAY, JANUARY 12, 1990 $ 9.36 60.11 46.85 65.00 $ 181.32 South Bend Regular Me 3. APPROU 4. 5. RF elopment Ccmission - January 26, 1990 CLAIMS (Cont.) Mi ch' Paving & Excavating Total T.I.F. 1988 NIPSCO Walsh & Kelly Inc. Total T I.F. 1989 w"._ Ste' 101-we I fi l Upon a motion made by Ms. Auburn, seconded by Mr. Caas and unanimously carried, the Commiss'on formally approved the claims submittEd January 15 and January 22, 1990 and ordered checks dated January 19 and January 26, 1990 to be released. There wire no communications. a. a. Mr. Hunt asked that this item be continued until the next meeting. There were no objections and item 5.a. was continued until the next regular meeting. Ms. key, Project Manager for the n, reported on the status of the . She noted that Mr. Kevork an, President of Continental Ltd. is requesting a 60-day -2- $ 57,533.63 $ 57,533.63 $ 5.55 38,258.70 $ 38,333.72 $ 95,979.20 04VN114onAMG4onki COMMISSION CONTINUED ITEM 5.A. South Bend evelcpment Commission Regular Mee ing - January 26, 1990 6. NEW BUSUESS (Cont.) a. conMinuea... b. per od of exclusive negotiations for the parcels. He is proposing a two phased pro ect of class A+ office space, consisting of two 110,000 sq. ft. towers, seven stories each, connected by a one or two story atrium that would serve as a common lobby and would contain the building's amenities package. This pro would maintain the visual co idor requirement laid out in our Mi igan Street plan. Continental. Offices Ltd. built a 1,0 0,000 sq. ft. office building in downtown Chicago which houses the Midwest Stock Exchange. They have also built sev office buildings in the Chicago near O'Hare Airport. Ms. Hickey noted that the staff r entering into the 60 day exclusive negotiation period with the developer. During this period the dev lcper plans to obtain a commitment letter financing and to nearly cxxnplete the architectural drawings for the Drol ect. Ms. Auburn asked if the developer has been in town studying the market and making financing contacts. Ms. Hickey repronded that he has been making those Upon a motion by Mr. Combs, seconded by Mr. Piasecki and unanimously carried, the Commission authorized the staff to enter intc a 60 day period of exclusive neg tiations with Continental Offices Ltd. for parcels C4 -3 and C4 -30 in the South Bend Central Development Area. The 60 day period will begin January 29, 199% and conclude March 30, 1990. -3- TO ENTER A .• DAY PERIOD OF EXCIUSIVE NEGOTIATTONS CONTTNENTAL OFFICES LTD. FOR PARCELS C4-3 AND C4-30 IN THE SOUTH BEND CENTPAL DEVELOPMENT AREA South Bend edevelopment Commission Regular Mee ing - January 26, 1990 6. NEW BUSUE55 (Cont.) b. continued... C. Mr. Hunt noted that there are three ways to use tax increment financing money generated by new development in the allccation areas: 1) to pay principal and interest on bonds; 2) to pay for daXect expenditures within the allocation area; 3) and to reimburse the city for expenditures made within the allocation area. Resolution No. 907 authorizes reimbursement to the City for UDAG funds t in the area. Upon a motion by Ms. Auburn, seconded by Mr. Combs and unanimously carried, the 'ssion approved Resolution No. 907 authorizing reinbursement to the City of South Bend for expenditures made within the Rum Village Industrial Park. Mr. Hunt noted that the title of Resolution No. 908 has been changed to "Resolution of the City of South Bend South Bend Redevelopment Commission the boundaries of the West W on- Chapin Development Area, expanding the allocation area for p of tax increment financing and amer ding the development plan." Mr. Norris, Project Manager for the West Washington-Chapin area, explained that Resclution No. 908 establishes the acquisition list for the development plan and makes the Comprehensive Plan dev loped by the West Washington- Chapin Revitalization Project, Inc. (WWCRP) , a of the development plan for the -4 COMMISSION APPROVED - • • • 907 AUTHORIZING r r.+ • iE TO THE CITY OF SOUTH BEND FOR EXPENDITURES MADE W1= TBE RUM VILLAGE INDUSTRIAL PARK South Bend 49development Cc mission Regular Mee ing - January 26, 1990 6. NEW BUSP ESS (Cont.) c. conninuea... area. He noted that establishing the acgisition list is necessary before the staff can send out purchase offers and beg to acquire the property. The acx.f 'sition list includes property from Elm Street to Studebaker Street and east of Scuth Maple Street to west of Chestnut Street, the entire 1200 and 1300 blocks of West Washington Street. Mr. Norris noted that the plan does not call. for total demolition of the buildings acquired. Mr. Nimtz asked if the WWCRP approves thio action. Mr. Norris responded that it does. Mr. Norris noted that the resolution also extends the boundaries of the West W n- Chapin Development Area south to Western Avenue between Chapin Street and Laurel Street. The purpose of this extension is to gain control of vacant prorerties on the corner of Chapin and Western and Laurel and Western. The WWCFP also approves of this action. Mr. Nimtz asked if there was any objection to accepting Resolution No. 908 for filing. There was no objection and Resolution No. 908 was accepted for filing.. Upon a motion by Mr. Combs, seconded by Ms. Auburn and unanimously carried, the Ccmission set the Public Hearing for Resclution No. 908 for 10:00 a.m. Febivary 23, 1990. -5- CONMISSION ACCEPTED RESOLUTION NO. 908 FOR FILING. COMMISSION SET THE PUBLSC HEARING ON RESOLUTION NO. 908 FOR 10:00 A.M. FEBRUARY 23, 1990 South Bend edevelopment Commission Regular Mee ing - January 26, 1990 6. NEW BUSINESS (Cont.) d. continued... f. Mr. Hunt explained that there have been some changes in the parcels in the Allccation Area since the Area was designated a TIF area. The staff will assess the parcel numbers and the revenue prol ections and make a recommendation of a base assessment date to the on at the Public Hearing on Fe23rd. Upon a motion by Ms. Auburn, seconded by Mr. Combs and unanimously carried, the Coimtission authorized publication of Notice of Public Hearing setting 10:00 a.m. February 23, 1990, as the time for a public hearing on Resolution No. 909, a resolution amending the base assessment date for a portion of the South Bend Cen Allocation Area for purposes of tax increment financing. Mr. Hunt explained that the public heating will be concerned with the appiopriation of tax incremental financing funds for architectural and eng' 7EiMservi=1for dawntawn pro for ic improvements in the town. Upon a motion by Mr. Piasecki, seconded by Mr. Combs and unanimously carried, the Commission authorized publication of the Notice of Public Hearing setting 10:00 a.m., February 23, 1990, as the time for a lic hearing on Resolution No. 911, a Supplewntal Appropriation Resolution of the South Bend Redevelopment Commission. mom COMMISSION AUTHORIZED PUBLICATION OF NOTICE OF PUBLIC HEARING ON RESOLUTION NO. 909, A RESOLUTION AMENDING THE BASE ASSESSMENT DATE FOR A PORTION OF THE SOUTH BEND CENTRAL ALIOCATION AREA FOR PURPOSES OF TAX INCREMENT FINANCING COPMMISSION AUTHORIZED PUBLICATION OF NOTICE OF PUBLIC HEARING SETTING 10:00 A.M. FEBRUARY 23, 1990, AS THE TIME FOR A PUBLIC HEARING ON RESOLUTION NO. 911, A SUPPLEMENTAL NTAL APPROPRIATION RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMICSSION South Bend Regular Me 7. VP elopment Commission - January 26, 1990 Mr. Hun# reported that Mrs. Kolata and Mayor Kernan in Indianapolis today before the Local T Control Board on the 1990 TIF Lease Purchasd Bond Issue. Mr. Hunt. also reported that the second East Bank office building had its groundbreaking January 25th. Mr. Nimtz noted that that is the last. major piece of property the Commission owned on the East Bank. Mr. Wol noted that the corner of the Main Street low building was unveiled to reveal a portion of the completed exterior of that buil It is a big improvement and looks very nice. The next. Regular Meeting of the Redevelopment Commission is scheduled for 10:00 a.m. Friday, February 9, 1990. There being no further business to come before the Cc mmission, Mr. Combs made a motion that the meeting be adjourned. Ms. Auburn seconded the motion and the meeting was adjourned at 10:35 a.m. r� /ll L11" Paula N. Auburn, Vice President -7- NEXT CESSION MEETING a 1 6 J: ►iw��M Yon R. t, Executive Director