HomeMy WebLinkAbout1992-06-18 Minutes.}
SOUTH BEND REDEVELOPMENT AUTHORITY
SPECIAL MEETING
June 18 1992 1200 County-City Building
3:00 p.m. 227 W. Jefferson Boulevard
Presiding: Joseph Wroblewski South Bend, Indiana 46601
President
The June 18, 1992, Special Meeting of the Redevelopment Authority
was called to order at 3:07 p.m. by its President, Joseph
Wroblewski. There was a quorum present.
1. ROLL CALL
Members Present: Mr. Joseph Wroblewski, President
Mr. Andre Gammage, Vice-President
Mr. Donald Fewell, Secretary
Redevelopment Staff: Mrs. Ann Kolata, Director
Mrs. Cheryl Phipps, Office Manager
Legal Staff: Mr. Richard A. Nussbaum III
Media: Mr. Howard Dukes, South Bend Tribune
. Others: Mr. Richard Hill, Baker & Daniels
Mr. Randy Rompolo, Baker & Daniels
2. APPROVAL OF MINUTES
a. Approval of Minutes of the Special Meeting of Friday.
June 5. 1992.
Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski
and unanimously carried, the Authority approved the
Minutes of the Special Meeting of Friday, June 5, 1992.
3. NEW BUSINESS
a. Authority approval requested for Resolution No. 56
authorizing issuance of the South Bend Redevelopment
Authority Taxable Lease Rental Revenue Bonds (Palais
Royale Project) and regarding other related matters.
Mrs. Kolata noted that Resolution No. 56 authorizes the
issuance of bonds in the amount of $1,410,000 for the
purchase of the Palais Royale. It sets the maximum
interest rate for the bonds at 10~ and lists the
maturities of the bonds. It contains a form of Trust
. Agreement and authorizes further changes to the Trust
Agreement. It also approves the Official Statement in
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• South Bend Redevelopment Authority
Special Meeting - June 18, 1992
3. NEW BUSINESS (Cont.)
a. continued...
the form presented and authorizes changes to the Official
Statement as recommended by bond counsel and financial
counsel. The resolution also authorizes publication
ofthe Notice of Intent to Sell Bonds, stating the terms
of the bonds sale, and authorizes the President and
Secretary to execute the Trust Agreement following the
bond sale.
Mr. Hill noted that the bond is a taxable bond allowing
the City to continue to lease out the retail space on the
first floor.
Mr. Hill also noted that the term of the bond is 12
years, equal to the remaining term of the City's present
lease for space in the Palais Royale.
Upon a motion by Mr. Gammage, seconded by Mr. Fewell and
unanimously carried, the Authority approved Resolution
No. 56 authorizing issuance of the South Bend
Redevelopment Authority Taxable Lease Rental Revenue
Bonds (Palais Royale Project) and regarding other related
matters.
4. APPROVAL OF CLAIMS
AIRPORT TAX_EXEMPT BOND
Cole Associates, Inc. $ 3,000.00
B. David Huntington & Assoc. 2,950.00
North American Golf, Inc. 37,300.00
Abstract & Title Corp. 50.00
TOTAL AIRPORT TAX EXEMPT BOND $43,300.00
AIRPORT TAXABLE BOND --
John & Betty Pendl and Jordan's Mishawaka Transfer $ 3,225.70
Delta Consulting Services, Inc. 3,000.00
TOTAL AIRPORT TAXABLE BOND $ 6,225.70
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• South Bend Redevelopment Authority
Special Meeting - June 18, 1992
4. APPROVAL OF CLAIMS (Cont.)
SBCDA PUBLIC IMPROVEMENT PROJECT
High Street Storage
Reynaldo Hernandez
TOTAL SBCDA PUBLIC IMPROVEMENT PROJECT
$ 27.00
240.00
$ 267.00
Upon a motion by Mr. Fewell, seconded by Mr. Gammage and
unanimously carried, the Authority approved claims submitted June
18, 1992 for payment.
5. ADJOURNMENT
Ms. Kolata noted that the bid opening for the St. Joseph/Wayne
Street Garage refunding will be held at 11:00 a.m., June 23.
Following a five hour period of time during which the bids will
be verified, there will be a public meeting of the Authority at
4:00 p.m. to award the bid.
There. being no further business to come before the Authority, Mr.
Fewell made a motion that the meeting be adjourned. Mr. Gammage
• seconded the motion and the meeting was adjourned at 3:20 p.m.
Joseph Wroblewsi, President Ann E. Kolata, Director
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