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HomeMy WebLinkAbout1999-04-05 Redevelopement Authority Minutes• SOUTH BEND REDEVELOPMENT AUTHORITY REGULAR MEETING Apri15, 1999 1308 County-City Building 1:30 p.m. 227 West Jefferson Boulevard Presiding: Ms. Carolyn Pfotenhauer South Bend, IN 46601 The Apri15, 1999 Regular Meeting of the Redevelopment Authority was called to order at 1:35 p.m. by its President, Carolyn Pfotenhauer. There was a quorum present. 1. ROLL CALL Members Present: Ms. Carolyn V. Pfotenhauer, President Mr. Jose Alvarez, Secretary Members Absent: Mr. Matthew Kahn, Vice-President Legal Counsel: Mr. Brian Stienke • Redevelopment Staff: Mrs. Ann E. Kolata, Director Mrs. Jenny Hullinger, Recording Secretary Mr. Owen Rock, Economic Development Specialist Mr. Robert Case, Economic Development Specialist 2. APPROVAL OF MINUTES a. Approval of the minutes of the regular meeting of March 1,1999. Upon a motion by Jose Alvarez, seconded by Carolyn Pfotenhauer, and unanimously carried, the Authority approved the Minutes of the Regular Meeting of March 1, 1999. 3. NEW BUSINESS a. Authority approval requested for Resolution No. 134 approving the transfer of real property from the South Bend Redevelopment Authority to the South Bend Redevelopment Commission. • H:\WPDATA\AUTHORTY\040599.MIN • The South Bend Redevelopment Authority April 5, 1999 Meeting Minutes Mrs. Kolata stated that transfer of property in Resolution No. 134 is for property in the Blackthorn Corporate Park, which was purchased by the Redevelopment Authority with a bond issue. Cornerstone LLC has a contract to purchase two parcels of land from the Redevelopment Commission. This is the second parcel. Resolution No. 134 transfers the property to the Redevelopment Commission so they can sell it to Cornerstone LLC. Cornerstone LLC plans to construct an 11,000 sft office building, which will overlook the golf course. Upon a motion by Mr. Alvarez, seconded by Ms. Pfotenhauer, and unanimously carried, the Authority approved the transfer of real property from the South Bend Redevelopment Authority to the South Bend Redevelopment Commission. 4. CORRESPONDENCE a. Investment Authorization for the Morris Performing Arts Center • bond funds. b. Investment Authorization for the Hall of Fame bond funds. Ms. Pfotenhauer asked that the record show that these Investment Authorizations have been received and will be acknowledged by the Redevelopment Authority's President. Mr. Alvarez asked if there was a minimum interest rate on this U.S. Treasury bill. Mrs. Kolata replied there was not a minimum rate, but there are some limitations on what can be earned on the interest rate. 5. CLAIMS Claims submitted for approval April 5, 1999. MORRIS LEASE RENTAL REVENUE BONDS OF 1998 Norwest Bank Annual administration fee $3,250.00 • H:\WPDATAWUTHORTY\040599.MIN 2 • The South Bend Redevelopment Authority April 5, 1999 Meeting Minutes AIRPORT TAXABLE LEASE BONDS OF 1993 Chase Manhattan Bank: Administration fee, Security holder fee, and out of pocket expenses $2,558.40 Upon a motion by Mr. Alvarez, seconded by Ms. Pfotenhauer, and unanimously carried, the Authority approved the claims submitted Apri15, 1999. 6. NEXT MEETING DATE: April 19, 1999. 7. ADJOURNMENT There being no further business to come before the Authority, the meeting was adjourned at 1:43 p.m. • .~-. /~ Matthew Kahn, Vice-President C~~ / ~_r~-~ 6%/G~- Arm E. Kolata, Director • H:\WPDATAWUTHORTY\040599.MIN 3