HomeMy WebLinkAbout2015 0218 Redevelopment Authority MinutesSOUTH BEND REDEVELOPMENT AUTHORITY
REGULAR MEETING
February 18, 2015
10:30 a.m.
1308 County-City Building
227 West Jefferson Boulevard
South Bend, IN 46601
The meeting was called to order at 10:36 a.m.
1. ROLL CALL
Members Present:
Redevelopment Staff:
Legal Counsel:
2. APPROVAL OF MINUTES
Mr. Richard Klee
Mr. Anthony Fitts
Ms. Erin Hanig (Arrived at 10:38 a.m.)
Mr. Scott Ford, Executive Director
Mr. Dave Relos, Associate II
Ms. Tracy Oehler, Recording Secretary
Mr. Benjamin Dougherty, Legal Department
A. Approval of Minutes of the Regular Meeting of December 17, 2014.
Upon a motion by Vice President Fitts, seconded by President Klee the
vote carried 2-0 (Secretary-Treasurer Hanig absent), the Authority
approved the Minutes of the Regular Meeting of December 17, 2014.
B. Approval of Minutes of the Regular Meeting of January 21, 2015.
Upon a motion by Vice President Fitts, seconded by President Klee the
vote carried 2-0 (Secretary-Treasurer Hanig absent), the Authority
approved the Minutes of the Regular Meeting of January 21, 2015.
Secretary-Treasurer Hanig joined the meeting at 10:38 a.m.
3. NEW BUSINESS
A. R_esolution No. 192 Authorizing the Issuance of the South Bend
Redevelopment Authority Lease Rental Revenue Bonds of 2015 and
Regarding Related Matters.
Mr. Ford noted the Common Council approved the lease between the
Redevelopment Commission and the Redevelopment Authority on
February 9, 2015. He explained Resolution No. 192 provides the issuance
of the bonds with the maximum principal amount of $25 million, having a
final maturity not later than February 1, 2037, and a maximum interest rate
of 6%. It provides the bonds be sold via public sale and authorizes the
South Bend Redevelopment Authority
Regular Meeting -February 18, 2015
Page 2
Authority officers to approve and sign the documents necessary to provide
for the sale and closing of the bonds, which entails the Preliminary Official
Statement, Trust Agreement, and Continuing Disclosure Undertaking
Agreement. Lastly, it authorizes the Redevelopment Authority to enter into
an agreement with the Board of Public Works.
Upon a motion by Secretary-Treasurer Hanig, seconded by Vice President
Fitts and unanimously carried, the Authority approved the Resolution No.
192 authorizing the issuance of the South Bend Redevelopment Authority
Lease Rental Revenue Bonds of 2015 and regarding related matters.
5. ADJOURNMENT
President Klee adjourned the meeting at 10:43 a.m.
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Richard Klee,1Jr~sident
South Bend Redevelopment Authority