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Home My WebLink About1992-08-07 Minutes- `'~ SOUTH BEND REDEVELOPMENT AUTHORITY • SPECIAL MEETING. August 7, 1992 1200 County-City Building 8.30 a.m. 227 W. Jefferson Boulevard Presiding: Joseph Wroblewski South Bend, Indiana 46601 President The August 7, 1992, Special Meeting of the Redevelopment Authority was called to order at 8:35 a.m. by its President, Joseph Wroblewski. There was a quorum present. 1. ROLL CALL Members Present: Redevelopment Staff: Legal Staff: Media: • Others Present: 2. APPROVAL OF MINUTES 3. Mr. Joseph Wroblewski, President Mr. Andre Gammage, Vice-President Mr. Donald K. Fewell, Secretary Mrs. Ann Kolata, Director Mrs. Martha Lantz, Recording Secretary Mr. Richard A. Nussbaum III Mr. Don Porter, South Bend Tribune Mr. Richard Hill, Baker & Daniels Upon a motion by Mr. Fewell, seconded by Mr. Gammage and unanimously carried, the Authority approved the minutes of the Special Meeting of July 16, 1992. NEW BUSINESS a. Report on sale of Taxable Lease Rental Revenue Bonds (Palais Royale). Mrs. Kolata reported that on August 4 Don Fewell conducted the sale for the bond issue. Five bids were received for the Palais Royale bond. The best bid was from Robert W. Baird & Co. at an interest rate of 7.0189. The highest bid was 7.4069. Following verification of the bids, Mr. Fewell awarded the bond to Robert W. Baird & Co. b. Authority approval requested for Resolution No. 61 reducing the annual rentals on the lease for the Palais and the terms of the bonds and regarding other related matters. -1- ,,~ South Bend Redevelopment Authority • Special Meeting - August 7, 1992 3. NEW BUSINESS (Cont.) b. continued... Mrs. Kolata explained that this Addendum to the Lease reduces the amount of rental payment the Commission will pay the Authority for the lease/purchase of the Palais Royale, based on the bid received from Robert W. Baird & Co. It also ratifies the action Mr. Fewell took on August 4 of awarding the bid to Robert W. Baird. Another change is that the previous Lease allowed the lease payment to be set by rounding up to the nearest thousand dollars and adding two thousand dollars to cover bond trustee costs. The Addendum allows us to add three thousand dollars for bond trustee costs. Our experience has shown that we have been a little short and have had to use other funds to pay the trustee. The semi-annual rental installments to the Authority will be in the amount of $98,500. The estimated amount previously used in the Lease was $110,000. I • Upon a motion by Mr. Gammage, seconded by Mr. Fewell and unanimously carried, the Authority approved Resolution No. 61 reducing the annual rentals on the lease for the Palais Royale project, approving the execution of an Addendum to the Lease, ratifying the selection of a successful bidder and the terms of the bonds, and regarding other related matters. c. Authority approval recLuested for Resolution No. 62 ratifying the execution of a Lease between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission for certain public improvements. Mrs. Kolata noted that the Authority previously authorized its officers to execute a Lease for the Blackthorn Golf Course after the State Tax Board approved the lease. The Tax Board has approved the Lease and the President and Secretary-Treasurer have executed it. This resolution ratifies the Lease's execution. Upon a motion by Mr. Fewell, seconded by Mr. Gammage and unanimously carried, the Authority approved Resolution No. 62 ratifying the execution of a Lease between the South Bend Redevelopment Authority and the South Bend Redevelopment Commission for certain public improvements. d. Mrs. Kolata explained that we wish to add a service to the contract with North American Golf and increase the amount -2- . ~ \l` South Bend Redevelopment Authority • Special Meeting - August 7, 1.992 3. NEW BUSINESS (Cont.) d. continued... of the contract by $4,000. The additional service is an analysis of well capacity at the site. Upon a motion by Mr. Gammage, seconded by Mr. Fewell and unanimously carried, the Authority approved the Addendum to Agreement for Consultant Services with North American Golf, Inc. in the amount of $4,000. e. Authority approval requested for Contract with Robert F. Kill & Associates related to the maintenance buildings for Blackthorn Golf Course. Mrs. Kolata noted approved a number Course, there was building. Robert prepare plans and building for a fey that in late June when the Authority of contracts related to Blackthorn Golf not one for design of the maintenance F. Kill and Associates proposes to specifications for the maintenance of $6,500. Upon a motion by Mr. Fewell, seconded by Mr. Gammage and unanimously carried, the Authority approved the Contract with Robert F. Kill & Associates for design of the maintenance building for Blackthorn Golf Course for a fee of $6,500. 4. APPROVAL OF CLAIMS SBCDA PUBLIC IMPROVEMENT PROJECT Reynaldo Hernandez $ 255.00 Michiana Lock and Key 57.98 The Abstract & Title Corporation 600.00 TOTAL SBCDA PUBLIC IMPROVEMENT PROJECT $ 912.98 AIRPORT TAXABLE BOND John & Betty Pendl & DMJ Remodeling Co., Inc. $ 2,608.34 Bradberry Brothers, Inc. 2.800.00 TOTAL AIRPORT TAXABLE BOND $ 5,408.34 AIRPORT TAX EXEMPT BOND North American Golf, Inc. $ 14,944.70 North American Golf, Inc. 18.942.00 TOTAL. AIRPORT TAX EXEMPT BOND $ 33,886.70 -3- ~. ~ ,~ South Bend Redevelopment Authority • Special Meeting - August 7 1992 4. APPROVAL OF CLAIMS (Cont.) PARKING FACILITY EXPENSE FUND Baker & Daniels TOTAL PARKING FACILITY EXPENSE FUND $ 21,802.00 $ 21,802.00 4. ADJOURNMENT There being no further business to come before the Authority, Mr. Gammage made a motion that the meeting be adjourned. Mr. Fewell seconded the motion and the meeting was adjourned at 8:52 a.m. I~{l • ~ ~c ~ ~- J se W. Wroblewski, President An E. Kolata, Director -4-