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HomeMy WebLinkAboutSM 12-19-95SOUTH BEND REDEVELOPMENT COMMISSION SPECIAL MEETING December 19, 1995 10:00 a.m. Presiding: Philip J. Faccenda President 1. ROLL CALL Members Present: Members Absent: Legal Counsel: Redevelopment Staff: 2. APPROVAL OF MINUTES There were no Minutes. 3. APPROVAL OF CLAIMS There were no Claims. 4. COMMUNICATIONS There were no Communications. 5. OLD BUSINESS There was no Old Business. 1308 County -City Building 227 W. Jefferson Boulevard South Bend, Indiana Mr. Philip J. Faccenda, President Mr. Robert W. Hunt, Secretary Mr. Michael Donoho Mr. William P. Hojnacki Ms. Paula N. Auburn, Vice - President Ms. Jenny Pitts Manier Mr. Jon R. Hunt, Exec. Director Mrs. Cheryl Phipps, Recording Secretary 6. NEW BUSINESS a. Receipt of Bids for land in the South Bend Central Development Area. (Land around Central High School) Ms. Manier explained that Central High I Al;� -1- THERE WERE NO MINUTES THERE WERE NO CLAIMS THERE WERE NO COMMUNICATIONS THERE WAS NO OLD BUSINESS South Bend Redevelopment Commission Special Meeting - December 19, 1995 6. NEW BUSINESS (Cont.) a. continued... School Associates owns the Central High School building and surrounding land. The surrounding land is being leased to the Commission, which improved that land and is subleasing it back to Central High School Associates. Central High School Associates has requested a restructuring of the current arrangement in order to meet their financing needs. The restructuring involves the purchase of the surrounding land by the Commission and the lease- purchase of the same back to Central High School Associates. It is actually more beneficial to the City because they will now be purchasing the improvements from us. Their proposal states that they will lease - purchase the land over a 30 year period for $1.00 per year with a balloon payment of $299,000 at the end of 30 years. Upon a motion by Mr. Robert Hunt, seconded by Mr. Hojnacki and unanimously carried, the Commission accepted the proposal from Central High School Associates for the land surrounding Central High School Apartments in the South Bend Central Development Area. b. Staff report on disposition of property in the Airport Economic Development Area. There was no report. C. Commission approval requested for Revision of 1995 Blackthorn Golf Course Budget. Ms. Manier explained that the changes to the 1995 budget do not affect the t9tal COMMISSION ACCEPTED THE PROPOSAL FROM CENTRAL HIGH SCHOOL ASSOCIATES FOR THE LAND SURROUNDING CENTRAL HIGH SCHOOL APARTMENTS IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA THERE WAS NO REPORT South Bend Redevelopment Commission Special Meeting - December 19, 1995 6. NEW BUSINESS (Cont.) C. continued... expenditures, but reflect changes to line items within the larger categories. Upon a motion by Mr. Hojnacki, seconded by Mr. Donoho and unanimously carried, the Commission approved the Revision of 1995 Blackthorn Golf Course Budget. 7. PROGRESS REPORTS COMMISSION APPROVED THE REVISION OF 1995 BLACKTHORN GOLF COURSE BUDGET Ms. Manier reported that the staff will be closing PROGRESS REPORTS with Bowne Printing on their purchase of property in the Airport Economic Development Area on January 5. Bowne will begin construction shortly thereafter. 8. NEXT COMMISSION MEETING The next meeting of the Redevelopment Commission is scheduled to be the Annual Organizational Meeting on January 2, 1996 at 10:00 a.m. 9. ADJOURNMENT There being no further business to come before the Redevelopment Commission, Mr. Donoho made a motion that the meeting be adjourned. Mr. Hojnacki seconded the motion and the meeting was adjourned at 10:20 a.m. NEXT COMMISSION MEETING ADJOURNMENT n Paula N. Auburn, President Ann E. Kolata, Director VV