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SOUTH BEND REDEVELOPMENT AUTHORITY <br /> REGULAR MEETING <br /> May 18, 2011 1308 County-City Building <br /> 10:30 a.m. 227 West Jefferson Boulevard <br /> Presiding: Jose Alvarez South Bend, IN 46601 <br /> The May 18, 2011 Regular Meeting of the Redevelopment Authority was called to order at 10:30 <br /> a.m. by its President, Jose Alvarez. There was a quorum present. <br /> 1. ROLL CALL <br /> Members Present: Mr. Jose Alvarez, President <br /> Ms. Carolyn V. Pfotenhauer, Vice President <br /> Mr. Ray Thomas, Secretary <br /> Redevelopment Staff: Mr. Don Inks, Director of Economic Development <br /> Mrs. Cheryl Phipps, Recording Secretary <br /> Mr. Larry Meteiver, Legal Counsel <br /> Mr. Gregg Zientera, Controller <br /> Others: Mr. Randy Rampola, Baker& Daniels LLC <br /> 2. APPROVAL OF MINUTES <br /> err' a. Approval of the minutes of April 20, 2011 <br /> Upon a motion by Ray Thomas, seconded by Carolyn Pfotenhauer, and unanimously <br /> carried, the Authority approved the Minutes of the Regular Meeting of April 20, 2011. <br /> 3. NEW BUSINESS <br /> a. Engagement letter for Baker& Daniels to serve as Bond Counsel for Issuance of <br /> Refunding Bonds related to the Hall of Fame Project and the Century Center <br /> Project <br /> Mr. Inks said at the last meeting the Authority approved the proposal for the <br /> financial consultant for the issuance of these bonds. This is the engagement letter <br /> for the Issuance of the refunding bonds for the Hall of Fame and Century Center. <br /> The fee is not to exceed $47,000. The Controller and City Attorney are <br /> comfortable with this. <br /> Mr. Alvarez asked, if the City is trying to sell the Hall of Fame, how would that <br /> sale affect the combining of the bonds. Mr. Zientera said the Hall of Fame is a tax <br /> exempt bond. The future owner will likely be a taxable entity; therefore, we would <br /> have to change the bond to a taxable bond. This is the number one reason driving <br /> this refunding and refinancing. Mr. Rompola said the Century Center bond was <br />