HomeMy WebLinkAboutRM 12-04-92SOUTH BEND REDEVELOPMENT COMMISSION
REGULAR MEETING
December 4, 1992
10:00 A.M.
Presiding Officer: Mr. Roman Piasecki
Vice - President
1. ROLL CALL
Members Present:
Members Absent:
Legal Counsel:
Redevelopment Staff:
News Media:
Others:
2. APPROVAL OF MINUTES
1308 County -City Building
227 W. Jefferson Boulevard
South Bend, Indiana 46601
Mr. Roman J. Piasecki, Vice President
Mr. Michael Donoho, Secretary
Mr. Philip J. Faccenda, Assistant Secretary
Ms. Paula N. Auburn, President
Ms. Charlotte Huddleston
Ms. Jenny Pitts Manier
Mr. Jon Hunt, Executive Director
Mrs. Cheryl Phipps, Office Manager
Mr. James Riggs, Economic Dev. Specialist
Mr. K. C. Pocius, Economic Dev. Specialist
Mr. Don Porter, South Bend Tribune
Mr. Thom Howell, U -93
Mr. Carter Wolf, Center City Associates
Mr. Randy Rompola, Baker & Daniels
a. Approval of the Minutes of the Regular
Meeting of Friday, November 20, 1992.
Upon a motion made by Mr. Faccenda,
seconded by Mr. Donoho and unanimously
carried, the minutes of the Regular
Meeting of Friday, November 20, 1992,
were approved.
b. Correction of Minutes of the Regular
Meeting of October 16, 1992.
Mr. Hunt noted that the October 16
minutes contained a couple of errors
relating to the receipt of bids for
Parcels 6 and 20 in the Studebaker
Corridor. The errors were on page five
and stated that Policemen's Federal
Credit Union bid on Parcel 6 and that
Schafer Gear bid on Parcel 20, when,
-1-
COMMISSION APPROVED THE MINUTES
OF THE REGULAR MEETING OF FRIDAY,
NOVEMBER 20, 1992
South Bend Redevelopment Commission
+ Regular Meeting - December 4, 1992
2. APPROVAL OF MINUTES (Cont.)
b. continued...
actually, the Credit Union's bid was for
Parcel 20 and Schafer Gear's bid was for
Parcel 6. Page five will be corrected in
the original Minutes.
Upon a motion by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried, the
Commission approved the corrections to
the Minutes of the Regular Meeting of
October 16, 1992.
3. APPROVAL OF CLAIMS
ADMIN 1992
Baker & Daniels
Ann Kolata
Pitcock Design Group, Inc.
Tri- County News
St. Joseph County Recorder
Federal Express
Indiana Michigan Power
South Bend Tribune
VISA
TOTAL ADMIN 1992
STUDEBAKER CORRIDOR BOND
Delta Consultant
James Freeman
EIS Environmental Engineers, Inc.
The Troyer Group, Inc.
Code Enforcement
Cole Associates Inc.
Peirce & Associates
York Title & Escrow, Inc.
TOTAL STUDEBAKER CORRIDOR BOND
S.B.C.D.A. TIF - GENERAL ACCOUNT
Workforce Development Services
Neighborhood Housing Services
TOTAL S.B.C.D.A. TIF - GENERAL ACCOUNT
GRAND TOTAL
-2-
COMMISSION APPROVED THE
CORRECTIONS TO THE MINUTES OF THE
REGULAR MEETING OF OCTOBER 16,
1992
$ 184.00
10.11
3,420.00
34.13
38.00
15.50
2.79
38.09
262.20
$ 4,004.82
$ 1,347.00
600.00
4,124.25
7,138.00
7,146.00
7,448.60
4,995.00
100.00
$ 32,898.85
$ 1,250.00
3,293.09
$ 4,543.09
$ 41,446.76
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
3. APPROVAL OF CLAIMS (Cont.)
Upon a motion made by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried, the
Commission formally approved the claims
submitted December 4, 1992.
4. COMMUNICATIONS
There were no Communications.
5. OLD BUSINESS
There was no Old Business.
6. NEW BUSINESS
a. Receipt of Bids for Lot 18b (south
portion) in the Airport Economic
Development Area. (Toll Road Industrial
Park) .
Mr. Hunt noted that no bids were received
for Lot 18b in the Toll Road Industrial
Park.
b. Commission approval requested for
Resolution No. 1116 approving the Fair
Re -use Value of property in the Airport
Economic Development Area. (Toll Road
Industrial Park, Lots 5, 11, 15 and 18b
(north portion)
Mr. Riggs explained that Lot 5 is
approximately 2.6 acres, Lot 11 is 3.72
acres, Lot 15 is approximately 14.56
acres, and Lot 18b (north) is
approximately 24.15 acres.
Mr. Hunt noted that Lots 5 and 11 are
offered as either a lease /purchase over
20 years or as a pre -paid lease /purchase
or sale. Lots 15 and 18b (north) are
offered as either a lease /purchase over
20 years or as a pre -paid lease /purchase.
Upon a motion by Mr. Faccenda, seconded
by Mr. Donoho and unanimously carried,
the Commission approved Resolution No.
1116 approving the Fair Re -use Value of
property in the Airport Economic
-3-
COMMISSION FORMALLY APPROVED THE
CLAIMS SUBMITTED DECEMBER 4, 1992
THERE WERE NO COMMUNICATIONS
THERE WAS NO OLD BUSINESS
NO BIDS RECEIVED FOR LOT 18B
(SOUTH PORTION) IN THE AIRPORT
ECONOMIC DEVELOPMENT AREA (TOLL
ROAD INDUSTRIAL PARK)
COMMISSION APPROVED RESOLUTION
NO. 1116 APPROVING THE FAIR
RE -USE VALUE OF PROPERTY IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
(TOLL ROAD INDUSTRIAL PARK)
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
6. NEW BUSINESS (Cont.)
b. continued...
Development Area. (Toll Road Industrial
Park, Lots 5, 11, 15, and 18b (north
portion)
c. Commission approval rea
Specifications and Desi,
for Lot 5, 11, 15, and
portion) in the Airport
Development Area. (Toll
Park)
aested for Bid
xn Considerations
18b (north
Economic
Road Industrial
Mr. Riggs outlined some of the design
considerations for these offerings.
Construction must begin within one year
of award of property; proposals must
conform to the Covenants of the Toll Road
Industrial Park; building plans,
landscaping, on -site parking, etc., must
be approved by the Commission's Design
Review Committee; project must be
completed within 2 years. Mr. Riggs
noted that partial sale or lease will be
allowed on a pro -rated basis.
Mr. Hunt noted that the Covenants for the
Toll Road Industrial Park served the
Industrial Foundation well and, rather
than trying to develop our own, have
assumed those. Mr. Piasecki asked what
some of those covenants are. Mr. Riggs
responded that they cover such things as:
the front facade must be at least
one -half masonry or brick; landscaping
between the street and building; curbed
parking lots, etc.
Upon a motion by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried, the
Commission approved the Bid
Specifications and Design Considerations
for Lots 5, 11, 15, and 18b (north
portion) in the Airport Economic
Development Area. (Toll Road Industrial
Park)
-4-
COMMISSION APPROVED THE BID
SPECIFICATIONS AND DESIGN
CONSIDERATIONS FOR LOTS 5, 11, 15
AND 18B (NORTH PORTION) IN THE
AIRPORT ECONOMIC DEVELOPMENT AREA
(TOLL ROAD INDUSTRIAL PARK)
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
6. NEW BUSINESS (Cont.)
d. Commission approval requested to publish
Notice of Intended Sale of Property in
the Airport Economic Development Area
with publication dates to be December 11
and December 18. 1992 and receipt of bids
to be at 10:00 a.m. on January 4, 1993.
(Toll Road Industrial Park, Lots 5, 11,
15, and 18b (north portion))
Upon a motion by Mr. Faccenda, seconded
by Mr. Donoho and unanimously carried the
Commission authorized publication of
Notice of Intended Sale of Property in
the Airport Economic Development Area
with publication dates to be December it
and December 18, 1992 and receipt of bids
to be at 10:00 a.m. on January 4, 1993.
(Toll Road Industrial Park, Lots 5, 11,
15, and 18b (north portion))
e. Commission approval requested for
Resolution No. 1117 approving the Fair
Re -use Value of property in the
Studebaker Corridor Development Area.
Mr. Pocius explained 6.e., 6.f., and 6.g.
together. There are twelve parcels being
offered at this time: Parcels 1, 9, 11,
30, 5, 7, 16, 19, 23, 8, 15, and 18. The
parcels total approximately 20 acres and
vary in size from 3,000 sq. ft. to
320,000 sq. ft. On the large parcels we
will accept bids by the square foot.
The Design Guidelines cover such things
as site coverage, building materials,
outside storage areas, parking
requirements, etc.
COMMISSION AUTHORIZED PUBLICATION
OF NOTICE OF INTENDED SALE OF
PROPERTY IN THE AIRPORT ECONOMIC
DEVELOPMENT AREA WITH PUBLICATION
DATES TO BE DECEMBER 11 AND
DECEMBER 18, 1992 AND RECEIPT OF
BIDS TO BE AT 10:00 A.M. ON
JANUARY 4, 1993 (TOLL ROAD
INDUSTRIAL PARK, LOTS 5, 11, 15,
AND 18B (NORTH PORTION))
Upon a motion by Mr. Donoho, seconded by COMMISSION APPROVED RESOLUTION
Mr. Faccenda and unanimously carried, the NO. 1117 APPROVING THE FAIR
Commission approved Resolution No. 1117 RE -USE VALUE OF PROPERTY IN THE
approving the Fair Re -use Value of STUDEBAKER CORRIDOR DEVELOPMENT
property in the Studebaker Corridor AREA
Development Area.
f. Commission approval requested for Bid
Specifications and Design Considerations
for Parcels in the Studebaker Corridor
Development Area.
-5-
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
6. NEW BUSINESS (Cont.)
f. continued...
Upon a motion by Mr. Donoho, seconded by COMMISSION APPROVED BID
Mr. Faccenda and unanimously carried, the SPECIFICATIONS AND DESIGN
Commission approved Bid Specifications CONSIDERATIONS FOR PARCELS IN THE
and Design Considerations for Parcels in STUDEBAKER CORRIDOR DEVELOPMENT
the Studebaker Corridor Development Area. AREA
g. Commission approval requested to vublish
Notice of Intended Sale of Property in
the Studebaker Corridor Development Area
with publication dates to be December 11
and December 18, 1992 and receipt of bids
to be at 10:00 a.m. on January 4, 1993.
Upon a motion by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried the
Commission authorized publication of
Notice of Intended Sale of Property in
the Studebaker Corridor Development Area
with publication dates to be December 11
and December 18, 1992 and receipt of bids
to be at 10:00 a.m. on January 4, 1993.
h. Commission anvroval requested for
Resolution No. 1118 authorizing the
issuance of bonds on parity with the City
of South Bend Redevelopment District Tax
Increment Revenue Bonds of 1985, the City
of South Bend Redevelopment District Tax
Increment Revenue Bonds of 1986 and the
City of South Bend Redevelopment District
Tax Increment Revenue Bonds of 1988 for
the purpose of raising money for
redevelopment in the South Bend Central
Development Area.
Ms. Manier explained that there are
currently outstanding tax increment bonds
for the South Bend Central Development
Area. Therefore, prior to the issuance
of additional finance bonds, certain
parity provisions of the existing bonds
must be met. The City Controller has
indicated that the debt service on the
existing bonds is paid to date. The
financial advisor on these bonds has
provided a Parity Certificate that
indicates that the parity provisions will
-6-
COMMISSION AUTHORIZED PUBLICATION
OF NOTICE OF INTENDED SALE OF
PROPERTY IN THE STUDEBAKER
CORRIDOR DEVELOPMENT AREA WITH
PUBLICATION DATES TO BE DECEMBER
11 AND DECEMBER 18, 1992 AND
RECEIPT OF BIDS TO BE AT
10:00 A.M. ON JANUARY 4, 1993
Adk
Sri South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
6. NEW BUSINESS (Cont.)
h. continued...
be met, notwithstanding the issuance of
the new bonds.
Ms. Manier noted that an objecting
petition was filed on this new bond
issue. A local hearing was held and the
State Board of Tax Commissioners denied
the issues that were raised.
Consequently, the Commission is in a
position to move forward with the
issuance of additional tax increment
revenue bonds in the amount of
$2,900,000. This money will be used to
fund preliminary design development costs
for the College Football Hall of Fame
project.
Ms. Manier noted that Resolution No. 1118
authorizes a negotiated sale for these
bonds and states that principal and
interest on the bonds is to be paid
solely from tax increment raised in the
South Bend Central Development Area.
Bonds will be issued in denominations not
less than $100,000. Interest rates will
not exceed 8$. Principal will be paid
annually, beginning in 1998 and interest
will be paid semi - annually. Norwest Bank
is the paying agent and registrar on the
bond.
Ms. Manier noted that, although it is a
20 -year bond, there is a provision for
prepayment on August 1, 1993 and every
February 1 and August 1 thereafter. It
is our intent to redeem the bonds by
August 1, 1993 with permanent financing.
They are redeemable at face value plus
accrued interest without a premium.
Mr. Faccenda noted that the financial
advisor has been very conservative in
estimating property taxes and has
included no increase in increment in his
projection.
-7-
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
6. NEW BUSINESS (Cont.)
h. continued...
Upon a motion by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried, the
Commission approved Resolution No. 1118
authorizing issuance of bonds on parity
with the City of South Bend Redevelopment
District Tax Increment Revenue Bonds of
1985, the City of South Bend
Redevelopment District Tax Increment
Revenue Bonds of 1986 and the City of
South Bend Redevelopment District Tax
Increment Revenue Bonds of 1988 for the
purpose of raising money for
redevelopment in the South Bend Central
Development Area.
i. Commission approval requested for
Resolution No. 1119 authorizing
reimbursement to the City of South Bend
for expenditures made within the South
Bend Central Development Area.
Mr. Hunt noted that from time to time the
Commission takes action to reimburse the
City for expenditures made in conjunction
with redevelopment activities within a
TIF area. Resolution No. 1119 reimburses
the City for the cost of Gerard Hilferty
and The Troyer Group related to
preliminary design work on the College
Football Hall of Fame. The total amount
to be reimbursed under Resolution
No. 1119 is $58,903.15.
Upon a motion by Mr. Donoho, seconded by
Mr. Faccenda and unanimously carried, the
Commission approved Resolution No. 1119
authorizing reimbursement to the City of
South Bend for expenditures made within
the South Bend Central Development Area.
7. PROGRESS REPORTS
Mr. Hunt noted that the Tribune expansion is
looking more impressive all the time. We
AM continue to add to the East Bank Walkway, the
latest of which is along Madison Center. The
-8-
COMMISSION APPROVED RESOLUTION
NO. 1118 AUTHORIZING ISSUANCE OF
BONDS ON PARITY WITH THE CITY OF
SOUTH BEND REDEVELOPMENT DISTRICT
TAX INCREMENT REVENUE BONDS OF
1985, THE CITY OF SOUTH BEND
REDEVELOPMENT DISTRICT TAX
INCREMENT REVENUE BONDS OF 1986
AND THE CITY OF SOUTH BEND
REDEVELOPMENT DISTRICT TAX
INCREMENT REVENUE BONDS OF 1988
FOR THE PURPOSE OF REDEVELOPMENT
IN THE SOUTH BEND CENTRAL
DEVELOPMENT AREA
PROGRESS REPORTS
South Bend Redevelopment Commission
Regular Meeting - December 4, 1992
7. PROGRESS REPORTS (Cont.)
HDC is making good progress with its
renovation on South Street and Lincolnway
East in Monroe Park.
Mr. Hunt reported we are making progress on
all fronts in the Airport 2010 project. The
weather has not been very cooperative for
construction of Blackthorn Golf Course, but
should not affect the schedule.
Mr. Wolf mentioned that Center City
Associates had a design charrette with the
East Bank property owners last week. There
will be a follow -up meeting and then a
proposal for the Commission to consider
related to land use in the East Bank.
8. NEXT COMMISSION MEETING
9
The next Regular Meeting of the Commission is
scheduled for December 18, 1992 at 10:00 a.m.
The Annual Organizational Meeting was set for
January 4, 1993 at 10:00 a.m.
There being no further business to come
before the Commission, Mr. Faccenda made a
motion that the meeting be adjourned. Mr.
Donoho seconded the motion and the meeting
was adjourned at 10:35 a.m.
AJ, /t), �"�
Paula N. Auburn, President
W1
NEXT COMMISSION MEETING
ANNUAL ORGANIZATIONAL MEETING
"N 10161000WA
An E. Kolata, 6irector