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HomeMy WebLinkAboutRM 11-05-93R Im SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING November 5, 1993 10:00 a.m. Presiding: Paula N. Auburn President I. ROLL CALL 1308 County -City Building 227 W. Jefferson Boulevard South Bend, Indiana Members Present: Ms. Paula N. Auburn, President Mr. Roman J. Piasecki, Vice - President Mr. Theo F. Sharp, Secretary Members Absent: Mr. Michael Donoho Mr. Philip Faccenda Legal Counsel: Ms. Jenny Pitts Manier Redevelopment Staff. Mrs. Ann Kolata, Director Mrs. Cheryl Phipps, Recording Secretary Mr. Tom Eddington, Economic Dev. Specialist Mr. James Riggs, Economic Dev. Specialist Bureau of Housing Staff. Ms. Mary Richmond Media: Mr. Thom Howell, U -93 Mr. Don Porter, South Bend Tribune Mr. Norm Stangland, Channel 22 WSBT Others: Mr. Carter Wolf, Center City Associates Mr. Tom Brademas Mr. Randy Rompola, Baker & Daniels Mr. Michael Claytor, Municipal Consultants Mr. Jon Williams, Community Affairs Mr. Kevin Horton, Controller Ms. Mikki Dobski Mr. Brian Hedman, Century Center Ms. Susan Visser, South Bend Art Museum Ms. Auburn noted that the Executive Session will be continued immediately following adjournment of the Regular Meeting. -1- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 2. APPROVAL OF MINUTES a. Approval of Minutes of the Regular Meeting of Friday, October 15, 1993. Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission approved the Minutes of the Regular Meeting of Friday, October 15, 1993. 3. APPROVAL OF CLAIMS COMMISSION APPROVED THE MINUTES OF THE REGULAR MEETING OF FRIDAY, OCTOBER 15, 1993 Redevelopment Commission Claims submitted November 5, 1993, for Approval. ADMIN 1993 ADT Security Systems American Planning Association Bognar -Young Landscape Nursery Business Communications Center Code Enforcement Corporate Staffing Resources Daytimers Equipment Services Gene's Camera Store Indiana Michigan Power Company Mobile Comm Building Department Trans Tech Electric Inc. TOTAL "1111)V --- _r: ZK• :: •: :•�1 •k�l McCloskey Pitts & Associates, Inc. Jerome E. Michaels TOTAL -2- $ 1,077.89 75.00 300.00 45.00 2,000.00 1,110.38 53.57 48.00 6.95 75.68 190.00 50.00 453.91 $ 5,486.38 $ 5,125.00 3,937.50 $ 9,062.50 3 South Bend Redevelopment Commission Regular Meeting - November 5, 1993 APPROVAL OF CLAIMS (Cont.) BOND ANTICIPATION NOTE (437) Insignia Catalog Service Donna Laurence Productions Sculpture Basis Gerard Hilferty & Associates TOTAL S.B.C.D.A. T.I.F. GENERAL ACCOUNT (420) Ameritech Services Walker Parking Consultants Peirce & Associates Real Estate Management Corp. Builders Square South Bend Water Works Indiana Michigan Power Company TOTAL SAMPLE -EWING DEVELOPMENT AREA (414) York Title & Escrow Jerome E. Michaels Huma Appraisals TOTAL REDEVELOPMENT GENERAL (433) The Troyer Group McCloskey Pitts & Associates, Inc. TOTAL GRAND TOTAL 4. COMMUNICATIONS There were no Communications. -3- $ 812.50 12,725.47 22,750.00 1,722.19 $ 38,010.16 $ 51.67 5,761.32 2,150.00 1,902.35 198.21 140.81 407.63 $ 10,611.99 $ 400,000.00 3,400.00 1,900.00 $ 405,300.00 1,765.25 5,125.00 $ 6,890.25 $ 475.361.33 THERE WERE NO COMMUNICATIONS South Bend Redevelopment Commission Regular Meeting - November 5, 1993 5. OLD BUSINESS There was no Old Business. 6. NEW BUSINESS THERE WAS NO OLD BUSINESS Mrs. Kolata asked permission to add item 6.k. to the agenda. There was no objection and the item was added to the agenda. a. Commission approval requested for Resolution No. 1198 approving a proposed Lease between the Redevelopment Authority and the South Bend Redevelopment Commission for certain land and public improvements, approving preliminaa plans, specifications and cost estimates, setting a public hearing on the proposed Lease pursuant to IC 36 -7 -14 -25.2, and authorizing publication of Notice of the Public Hearing. Mr. Horton gave a presentation explaining the purpose and structure of the bond issue. The bond issue will combine two separate bonds into one in order to save on issuance costs: a bond to fund acquisition improvements, repairs, and renovations at Century Center and a bond to fund the design and construction of the College Football Hall of Fame. Mr. Horton noted that the City hopes to be in a position to start construction on the Hall of Fame in March 1994. In order to meet that timetable, the technical process for the bonds needs to begin. However, since the City is not ready to disclose the results of its corporate solicitation at this time, and since the Commission will want to have that information before a final commitment to issue bonds is made, the City is adding an -4- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... additional step to the bond process. With Commission approval of the proposed Lease at this time, the process can move forward to get approval from the State Tax Board. Both the Commission and the Common Council will then have the opportunity to recommend to the South Bend Redevelopment Authority that it proceed to issue the bonds. The Commission will consider its recommendation to the Authority on February 4, 1994 and the Council will consider its recommendation to the Authority on February 14, 1994, under the current timetable. The Authority has resolved not to move forward with the issuance of the bonds without Commission and Council support. The Redevelopment Authority will then authorize issuance of the bonds on February 17. If the Commission is not satisfied with the corporate solicitation, it can recommend that the Hall of Fame portion of the bond be delayed or terminated. The Century Center portion of the bond could go forward alone. This method allows for maximum flexibility while still moving forward. Century Center is a critical facility in the economic development of the downtown. It is desperately in need of a new roof. The staff has also been looking ahead to their future needs in order to position the facility well for the next ten to fifteen years. Three factors control the proposal made to the Commission at this time: 1) Currently, the City, the school corporation and the Hotel/Motel Tax Board make a total of -5- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... $496,000 per year in lease payments on a lease that runs to 2004. Those bodies cannot afford to make a larger payment. 2) The TIF district has a tremendous burden and cannot afford the additional burden of supporting Century Center. 3) Century Center is a 220,000 square foot facility. Any facility that size has periodic major maintenance needs. We cannot afford to be in a position where their only source to meet these important needs is the Civil City budget or the Hotel/Motel Tax Board. With those conditions in mind, we propose to convey the building from the Civic Center Building Authority to the Redevelopment Authority. The Commission would be in a better position than the City or Hotel/Motel Tax Board to address the large but critical needs of Century Center. Century Center asked Alan Ritchie to design a renovation of Century Center for $2.6 million that would meet its needs for the next ten to fifteen years. Alan Ritchie was the architect from the Johnson - Burgee group which originally designed Century Center. A $2.6 million bond could be paid off by extending the current lease payment an additional ten years, to the year 2014. The total amount of the bond issue for Century Center will be $6.4 million. $3.2 million will be used to pay off the existing bond in order to convey Century Center to the Redevelopment Authority. $2.6 million will be used for improvements. Capitalized interest accounts for the remaining $600,000. 0 South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... The second element of this bond issue is the College Football Hall of Fame. The Hall of Fame will be a $14 million project. The City will make certain public improvements, as it does with any downtown development project. Those improvements, totalling $700,000, will include such things as landscaping, street improvements, and, in this case, constructing a tunnel to connect Century Center to the Hall of Fame. Capitalized interest and issuance costs will be $1,046,722 for a total expenditure of $15.7 million. Netting out investment earnings, the total bond for the Hall of Fame will be $15.48 million. Mr. Horton noted that the projection shows a shortfall of approximately $40,000 per year on the Century Center bond debt service, which will be made up by tax increment. We hope that figure will decrease as the construction costs are firmed UP. Mr. Horton explained the Hall of Fame bond structure. He noted that, although we intend to pay the Hall of Fame bond off with corporate donations, it would not be possible to sell a bond structured with that revenue stream. In order to sell an A -rated bond at the best interest rate possible, we have structured the bond as if it were to be paid by tax increment. Using a conservative projection of TIF revenue from the downtown TIF district, a repayment schedule has been developed which would keep bond payments at or below expected -7- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... TIF revenue to the year 2019. Therefore, to the bond market this looks like a straight- forward TIF bond. The other advantage that gives the City is that, if a corporation cannot make its commitment in a given year, there would be tax increment enough to make the lease payment. We don't anticipate that happening, but we feel that we have an obligation to cover that contingency. As contributions come in, they will be used to purchase treasury securities which will defease the bonds. The end result is that the U.S. government will be paying the principal and interest on the bond. The Lease must name the maximum lease payment which would be required during the term of the lease. The estimated highest lease payment that will be required for the Century Center portion of the project is $538,000 per year and, therefore, the Lease establishes the maximum semi - annual lease payment for the Century Center portion during the first years of the project at $300,000 and the maximum semi - annual lease payment during the remaining years at $300,000. According to the proposed debt service schedule, the maximum debt service for the Hall of Fame portion of the project is $2,685,000 per year and, therefore, the Lease establishes the maximum semi - annual lease payment for the Hall of Fame portion during the first years of the project at $660,000 and the maximum semi - annual South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... lease payment during the remaining years at $1,600,000. Mr. Horton noted that the Lease is structured to assure that there is no mixing of proceeds nor debt service between the Century Center and Hall of Fame portions of the project. Mr. Horton summarized the benefits of this bond issue: 1) the College Football Hall of Fame; 2) a new owner for Century Center; 3) some impressive improvements to Century Center; and 4) lower costs of issuance and better interest rates. Mr. Horton noted that the projected profits from running the Hall of Fame were not used at all as a revenue stream in this bond. Mr. Rompola noted that once we get through the lease approval process and get the final order from the State Board of Tax Commissioners we would come back to the Commission and then to the Council for their separate recommendation to the Redevelopment Authority concerning the issuance of bonds to fund the project. The Redevelopment Authority has indicated that it will not issue any bonds until it has the final approval of the Common Council after the lease has been approved by the state. Mr. Hedman noted that the improvements slated for Century Center will help fulfill the destiny of Century Center to serve the citizens of South Bend as they use the W2 South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... facility. There is also an enormous economic impact from the convention business that Century Center does. We must have a center that meets the clients needs and is presentable. These new improvements address both of those issues. Ms. Visser spoke to the interest of the Art Museum. The Art Museum needs an exhibition area for its permanent collection of art work, representative of the region, as well as fine tuning of classrooms and updates from the original design. Mr. Piasecki asked for more detail on the renovation to be done at Century Center. Mr. Hedman responded that movement of people in the center has become a problem as its uses have changed. The Great Hall was conceived as a place where people would walk through from one event to another. It has become one of the most popular rooms in the Center. We need to provide for traffic flow around it to the other spaces. Extra exhibition space would be very beneficial to the City. After Studebaker Museum moved from Century Center, the exhibition space it occupied has been very busy. That is new business for Century Center. The renovation would add 5,000 - 6,000 square feet of additional exhibition space, without increasing the footprint of the building. The proposed renovation also includes a new staircase near the entrance of the building and conversion of the planter space into extra exhibition space. -10- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... Mr. Sharp stated that he feels that the combined bond with a future opportunity to move ahead on only the Century Center bond makes sense and has a cost advantage to the City. Ms. Auburn thanked Mr. Horton for a clear presentation and document. It is very attractive and well arranged. Mr. Brademas asked for permission to speak and was granted permission. Mr. Brademas noted that he is the acting president of the Hotel/Motel Tax Board, and the member of that board with the longest service on the board, he is the owner of a local hotel, he is the first winner of the leadership award for that body. This shows that he has a long and continued interest in conventions and tourism in our community. Mr. Brademas believes that Century Center is absolutely indispensable to this community. The Hotel/Motel Tax Board has a commitment to make the payments on the initial bond issue. It has provided a substantial amount of money for the operation of Century Center. A year ago the Hotel/Motel Tax Board received from Mr. Hedman a list of unfunded capital items. This cost of funding that list of needs was about $1,175,000. The Hotel/Motel Tax Board looked at floating a $2.6 million bond issue which would have taken care of those needs as well as taking care of Studebaker Museum so that Discovery Hall could be expanded and available to Century Center for other uses. -11- South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... Mr. Brademas expressed dismay at reading in the paper that one of the items to be provided for Century Center under the City's bond is a banquet facility. There are many other banquet facilities in the area which would be in direct competition with the Century Center banquet facility and would suffer from the additional competition. He does not feel that the government should be in competition with the private sector. Mr. Brademas noted that the Mayor has always promised that the Hall of Fame would be funded by donations from corporations outside of the community, not from tax dollars. Now, here is a bond that is structured to be paid from tax increment. There seem to be no firm commitments from corporations. Mr. Brademas thinks that the Mayor should at least indicate how much has been committed, without naming the donors. Mr. Brademas noted that the Hotel/Motel Tax Board can fund the $2.6 million bond from its present income. He doesn't want anyone to think that it is necessary to go through these gyrations in order to fund the improvements to Century Center. Ms. Auburn acknowledged the role that the Hotel/Motel Tax Board has played in supporting Century Center. She noted that there are often people who do not approve of the direction the Commission takes nor where it is going. We have just heard from one such citizen. 51PA South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) a. continued... Mrs. Kolata noted that Resolution No. 1198 approves the preliminary plans and specifications and cost estimates for the projects; approves the proposed lease which is, dated as of November 1, 1993; schedules a public hearing on the proposed lease to be held November 15 at 4:00 p.m.; and authorizing publication of the Notice of Public Hearing. The lease is similar to the leases we have had for other bond issues. It sets the general parameters. Everything moves forward with the approval of the lease. After the bond is sold, the lease is revised to reflect the terms of the sale. The one thing that is different with this lease is that the maximum lease payment is broken out into a maximum lease payment on the Century Center portion and a maximum lease payment on the Hall of Fame portion. Ms. Auburn noted that there is severability between the Century Center and Hall of Fame portions of the projects and that the two may be considered separately in February when the Commission makes its recommendation to the Redevelopment Authority about whether to issue one or both portions of the bond. -13- 21 South Bend Redevelopment Commission Regular Meeting - November 5, 1993 NEW BUSINESS (Cont.) a. continued... Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved Resolution No. 1198 approving a proposed Lease between the Redevelopment Authority and the South Bend Redevelopment Commission for certain land and public improvements, approving preliminary plans, specifications and cost estimates, setting a public hearing on the proposed Lease pursuant to IC 36 -7- 14 -25.2, and authorizing publication of Notice of the Public Hearing. b. Commission approval requested Certificate of Waiver for Vernon K. Grable and Lois J. Powell for property located at 1518 Lincolnway West. Ms. Richmond noted that the property at 1518 Lincolnway West is a 4 -unit apartment. A waiver was approved for 1989 -1990 last fall. However, the waiver was never recorded. Rather than record that document and a new one separately, this waiver includes both the previous and current years. It waives $2,283.00 for each of the years ending December 1, 1990, 1991, 1992, and 1993. Mrs. Kolata noted that the Rental Rehab program makes a loan that is forgivable at the rate of 10 % per year if the property is kept up to code, the taxes and insurance are paid, and it is made available for rent to low and moderate income people. -14- COMMISSION APPROVED RESOLUTION NO. 1198 APPROVING A PROPOSED LEASE BETWEEN THE REDEVELOPMENT AUTHORITY AND THE SOUTH BEND REDEVELOPMENT COMMISSION FOR CERTAIN LAND AND PUBLIC IMPROVEMENTS, APPROVING PRELIMINARY PLANS, SPECIFICATIONS AND COST ESTIMATES, SETTING A PUBLIC HEARING ON THE PROPOSED LEASE PURSUANT TO IC 36 -7 -14 -25.2, AND AUTHORIZING PUBLICATION OF NOTICE OF THE PUBLIC HEARING South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) b. continued... Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission approved the Certificate of Waiver in the amount of $2,283.00 for each of the years ending December 1, 1990, 1991, 1992, and 1993 for Vernon K. Grable and Lois J. Powell for property located at 1518 Lincolnway West. C. Commission approval requested for Certificate of Waiver for Louis M. and Mary H. Sea o�for property located at 712 Lindsey Street. Ms. Richmond noted that this waiver waives $406.70 for the years ending August 30, 1992 and 1993. Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved the Certificate of Waiver in the amount of $406.70 for the years ending August 30, 1992 and 1993 for Louis M. and Mary H. Seago for property located at 712 Lindsey Street. d. Commission approval requested for loan in connection with the West Washington- Chapin Rehabilitation Loan Program �for DroDertv located at 1038 LaSalle Ct. Cynthia J. Woods Ms. Kolata noted that the Cynthia Woods is requesting a loan in the amount of $10,150. It will be a deferred payment loan because the current balance on Ms. Woods' land contract is $9,142.32 and her payments on -15- COMMISSION APPROVED THE CERTIFICATE OF WAIVER IN THE AMOUNT OF $2,283.00 FOR EACH OF THE YEARS ENDING DECEMBER 1, 1990, 1991, 1992, AND 1993 FOR VERNON K. GRABLE AND LOIS J. POWELL FOR PROPERTY LOCATED AT 1518 LINCOLNWAY WEST COMMISSION APPROVED THE CERTIFICATE OF WAIVER IN THE AMOUNT OF $406.70 FOR THE YEARS ENDING AUGUST 30, 1992 AND 1993 FOR LOUIS M. AND MARY H. SEAGO FOR PROPERTY LOCATED AT 712 LINDSEY STREET RE South Bend Redevelopment Commission Regular Meeting - November 5, 1993 NEW BUSINESS (Cont.) d. continued... that are all she can handle at this time. The West Washington - Chapin Loan will be a lien on the house, subordinate to the land contract. The size of her payments when she begins making payments on the WWC loan have not been determined, because several of her sources of income could change before that time. Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission approved a loan in the amount of $10,150 in connection with the West Washington - Chapin Loan Program for property located at 1038 LaSalle Ct. for Cynthia J. Woods. e. Commission approval requested for loan in connection with the West Washington- Chapin Rehabilitation Loan Program for property located at 1104 W. Napier. (Ronald & Susan Webb) Mrs. Kolata explained that the $71,600 loan to the Webbs carries an interest rate of 3 % for a 30 year term. Monthly payments will be approximately $301. The Webbs do not currently live in the house, but will rehab it for their home. It is a three bedroom home. Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved the loan in the amount of $71,600 in connection with the West Washington - Chapin Loan Program for property located at 1104 W. Napier for Ronald & Susan Webb. -16- COMMISSION APPROVED A LOAN IN THE AMOUNT OF $10,150 IN CONNECTION WITH THE WEST WASHINGTON - CHAPIN LOAN PROGRAM FOR PROPERTY LOCATED AT 1038 LASALLE CT. FOR CYNTHIA J. WOODS COMMISSION APPROVED THE LOAN IN THE AMOUNT OF $71,600 IN CONNECTION WITH THE WEST WASHINGTON - CHAPIN LOAN PROGRAM FOR PROPERTY LOCATED AT 1104 W. NAPIER FOR RONALD & SUSAN WEBB South Bend Redevelopment Commission Regular Meeting - November 5, 1993 f. Commission approval requested for quote for sewer repair in the South Bend Central Development Area. (State Theater) Mrs. Kolata noted that there is a problem with the drainage from the roof of the State Theater in the alley between the theater and Heartland. There needs to be piping added to the main storm sewer. The Board of Works has received quotes and recommends that we accept the low bid from Herrman and Goetz in the amount of $1,795. This is something the owner of the State Theater felt we should have corrected before we sold him the theater. We agreed that the problem existed before we sold the theater. Mrs. Kolata noted that the work on the State Theater is proceeding very well. Two major items have not been finished: the handicapped restrooms and the fire escape. The plans for both of those have been sent down state. The Commission has an easement for the facade. The exterior treatment has been removed to see what is needed for restoration and the ticket booth is gone. Temporary improvements will be made until we can do permanent restoration. Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved the quote from Herrman and Goetz in the amount of $1,795.00 for sewer repair in the South Bend Central Development Area. g. Commission approval requested for use of the Morris Civic Plaza on November 24. 1993. (Wedding) -17- COMMISSION APPROVED THE QUOTE FROM HERRMAN AND GOETZ IN THE AMOUNT OF $1,795.00 FOR SEWER REPAIR IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) g. continued... Mrs. Kolata noted that a couple will have a 10- person, 15- minute wedding on the plaza. The staff recommends approving the request. Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission authorized the use of the Morris Civic Plaza on November 24, 1993 for a wedding. h. Commission approval requested for use of the Morris Civic Plaza by Community Affairs on December 3. 1993. (Downtown for the Holidays kickoff) Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission authorized the use of the Morris Civic Plaza on December 3, 1993 by Community Affairs for the kickoff of "Downtown for the Holidays". i. Commission approval requested for Resolution No. 1200 related to acquisition of property in the Sample -Ewing Development Area by Eminent Domain. Mrs. Kolata explained that Resolution No. 1200 sets the Commission approved market price for 41 pieces of property in the Sample -Ewing Development Area and authorizes the use of Eminent Domain to acquire the property if necessary. The purchase offers will be sent the week of November 8. go COMMISSION AUTHORIZED THE USE OF THE MORRIS CIVIC PLAZA ON NOVEMBER 24, 1993 FOR A WEDDING COMMISSION AUTHORIZED THE USE OF THE MORRIS CIVIC PLAZA ON DECEMBER 3, 1993 BY COMMUNITY AFFAIRS FOR THE KICKOFF OF "DOWNTOWN FOR THE HOLIDAYS ". C� South Bend Redevelopment Commission Regular Meeting - November 5, 1993 NEW BUSINESS (Cont.) i. continued... Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved Resolution No. 1200 related to acquisition of property in the Sample -Ewing Development Area by Eminent Domain. j. Commission Mroval requested to advertize retail space in the Palais Royale building the South Bend Central Development Area. Mrs. Kolata noted that someone has expressed interest in renting 1730 square feet of space in the Palais Royale, just west of Office Interiors, if we make improvements to the space. We need to advertise this for public bid. In the meantime we would like the Board of Works to bid out the improvements to the space so we have a firm handle on those costs. We would advertize the retail space on November 12 and November 19, 1993 with receipt of bids to be at 10:00 a.m. on December 3, 1993. Upon a motion by Mr. Piasecki, seconded by Mr. Sharp and unanimously carried, the Commission authorized staff to advertize for bids for retail space in the Palais Royale building. k. Commission approval requested for Access and Parking Easement Agreement with Azar, Inc. (The Wharf) Mrs. Kolata noted that Azar, Inc. owns the property that the Wharf is on. There are -19- COMMISSION APPROVED RESOLUTION NO. 1200 RELATED TO ACQUISITION OF PROPERTY IN THE SAMPLE -EWING DEVELOPMENT AREA BY EMINENT DOMAIN South Bend Redevelopment Commission Regular Meeting - November 5, 1993 6. NEW BUSINESS (Cont.) k. continued... currently easements between the Opelika property and the Wharf that relate to both properties. The intent of this document is to release the current easements and to enter new easements. The Alexander Company and Azar, Inc. has been negotiating and this agreement reflects those negotiations. Upon a motion by Mr. Sharp, seconded by Mr. Piasecki and unanimously carried, the Commission approved the form of the Access and Parking Easement Agreement with Azar, Inc. and authorized execution of the document. 7. PROGRESS REPORTS Ms. Auburn noted that the new South Bend Tribune building looks fabulous. Mrs. Kolata reported that the Stephenson Mill project is moving forward rapidly. We expect to close on the property soon. Construction should begin in mid - November. Mrs. Kolata noted that we are working on the rezoning of Central High School for The Alexander Company. That will be considered by the Area Plan Commission on November 16. 8. NEXT COMMISSION MEETING The next meeting of the Redevelopment Commission is a Special Meeting to be held at 4:00 p.m. on November 15, 1993. -20- COMMISSION APPROVED THE FORM OF THE ACCESS AND PARKING EASEMENT AGREEMENT WITH AZAR, INC. AND AUTHORIZED EXECUTION OF THE AGREEMENT PROGRESS REPORTS NEXT COMMISSION MEETING a South Bend Redevelopment Commission Regular Meeting - November 5, 1993 NEXT COMMISSION MEETING (Cont.) The next Regular Meeting of the Commission is scheduled for November 19, 1993 at 10:00 a.m. ADJOURNMENT There being no further business to come before the Commission, Mr. Sharp made a motion that the meeting be adjourned. Mr. Piasecki seconded the motion and the meeting was adjourned at 11:35 a.m. Paula N. Auburn, President -21- ADJOURNMENT Ann E. Kolata, Director