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HomeMy WebLinkAbout1997-02-05 Redevelopment Authority Minutesy~ ~1'~ • SOUTH BEND REDEVELOPMENT AUTHORITY SPECIAL MEETING February 5, 1997 4:30 p.m. Presiding: Andre B. Gammage President 1308 County -City Building 227 W. Jefferson Boulevard South Bend, Indiana 46601 Prior to the start of the meeting, Mrs Loretta Duda, City Clerk, administered the oath of office to Andre Gammage. The February 5, 1997 Special Meeting of the Redevelopment Authority was called to order at 4:42 p.m. by its President, Andre Gammage. There was a quorum present. 1. ROLL CALL Members Present: Mr. Andre B. Gammage Ms. Mary O. Ferlic • Redevelopment Staff: Mrs. Ann Kolata, Director Mrs. Joelle K. Smith, Recording Secretary Others: Mr. Randy Rompola, Baker & Daniels Ms. Deborah Locsi, Baker & Daniels Ms. Loretta Duda, City Clerk 2. ELECTION OF OFFICERS Mrs. Kolata, conducted the Election of Officers. PRESIDENT Ms. Ferlic nominated Andre Gammage to serve as President of the Redevelopment Authority. Mr. Gammage seconded the nomination. There were no additional nominations. The vote being unanimous, Mr. Gammage was elected President for 1997. SECRETARY-TREASURER Mr. Gammage nominated Mary Ferlic to serve as Secretary-Treasurer of the Redevelopment Authority. Ms. Ferlic seconded the nomination. There were no additional nominations. The vote being unanimous, Ms. Ferlic was elected Secretary-Treasurer for 1997. • Mr. Gammage resumed the chair. 1 T. .~--~ • South Bend Redevelopment Authority Annual Organizational Meeting -February 5, 1997 3. APPROVAL OF MINUTES a. Approval of Minutes of the Regular Meeting of Wednesday, November 6, 1996. Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously carried, the Authority approved the Minutes of the Regular Meeting of Wednesday, November 6, 1996. 4. NEW BUSINESS a. Authority approval requested for Resolution No. 111 Approving the Execution of an Addendum to the Lease between the Authority and the South Bend Redevelopment Commission and other related matters Mrs. Kolata explained that Resolution No. 111 is related to the refinancing of the Airport Tax Exempt Bond issue. The resolution approves the Lease Addendum, setting up a new lease payment schedule that reduces the annual lease rental on the bonds. Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously carried, the Authority approved Resolution No. 111 Approving the Execution of an Addendum to the Lease between the Authority and the South Bend Redevelopment Commission and other related matters. b. Authority approval requested for Resolution No. 112 amending Resolution No. 107 Authorizing the Issuance of the South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds and other related matters Mr. Rompola explained that Resolution No. 112 provides for the issuance of bonds to advance refund the 1991 Airport Tax Exempt bonds. It was originally thought that this refinancing would take place in 1996 but it was postponed until 1997. The resolution acknowledges that delay and modifies the name of the bond issue from Series 1996 B Bonds to 1997 Bonds. Upon a motion by Mr. Gammage, seconded by Ms. Ferlic and unanimously carried, the Authority approved Resolution No. 112 amending Resolution No. 107 Authorizing the Issuance of the South Bend Redevelopment Authority Lease Rental Revenue Refunding Bonds and other related matters. • . South Bend Redevelopment Authority Annual Organizational Meeting -February 5, 1997 c. Authority approval requested for Affidavit of Project Completion for College Football Hall of Fame Mrs. Kolata explained that items Sc and Sd relate to two projects that have been completed. We need to provide the Affidavit of Project Completion for each project to the Bond Trustee. Upon a motion by Mr. Gammage, seconded by Ms. Ferlic and unanimously carried, the Authority approved Affidavit of Project Completion for the College Football Hall of Fame bond issue. d. Authority approval requested for Affidavit of Project Completion for Century Center Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously carried, the Authority approved Affidavit of Project Completion for the Century Center bond issue. 5. APPROVAL OF CLAIMS Claims submitted for approval on February 5, 1997 HALL OF FAME PROJECT Helaba Operation & Reserve $20, 572.18 Hilferty & Assoc., Inc. Construction Fund $ 4,581.80 1996 AIRPORT TAX EXEMPT REFUNDING BONDS (Subject to the closing of the Refinancing) Fitch Investors Service, L.P. Expense Fund $ 2,000.00 Standard & Poor's Expense Fund $ 3,500.00 H.J. Umbaugh & Associates Expense Fund $11, 668.92 • .. p ., k South Bend Redevelopment Authority Annual Organizational Meeting -February S, 1997 PALAIS ROYALE PROJECT Crowe Chizek Expense Fund $ 3,500.00 COVELESKI STADIUM PROJECT Crowe Chizek Expense Fund $ 3,500.00 PARKING FACILITY PROJECT Crowe Chizek Expense Fund $ 3,500.00 CENTURY CENTER PROJECT Century Center Capitol Improvement Fund Construction Fund $12,195.22 Upon a motion by Mr. Gammage, seconded by Ms. Ferlic and unanimously carried, the • Authority approved the Claims submitted for approval February 5, 1997 6. NEXT MEETING DATE: The next meeting of the Redevelopment Authority is scheduled for Wednesday, February 19, 1997 at 4:30 p.m. 7. ADJOURNMENT There being no further business to come before the Redevelopment Authority, Ms. Ferlic made a motion that the meeting be adjourned. Mr. Gammage seconded the motion and the meeting was adjourned at 4:52 p.m. C Andre B. Gammage, Pre ' ent w Ann E. Kolata, Director • 4