1998-02-23 Redevelopment Authority Minutes

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• SOUTH BEND REDEVELOPMENT AUTHORITY SPECIAL MEETING February 23, 1998 1308 County-City Building 1:30 p.m. 227 West Jefferson Boulevard Presiding: Mr. Eugene Ladewski South Bend, IN 46601 The February 23, 1998 Special Meeting of the Redevelopment Authority was called to order at 1:35 p.m. by its President, Eugene Ladewski. There was a quorum present... L ROLL CALL Members Present: Mr. Eugene Ladewski, President Ms. Carolyn Pfotenhauer, Vice-President Members Absent: Mr. Andre Gainmage, Secretary Legal Counsel Ms. Acme Bruneel Mr. Randy Rampola, Baker and Daniels Redevelopment Staff: Mrs. Ann Kolata, Director Mrs. Jenny Hullinger, Recording Secretary • 2. APPROVAL OF MINUTES The Authority Members were unable to review the minutes ahead of -time, so approval of the minutes was tabled until the next meeting. 3. NEW BUSINESS a. .Authority approval requested for Resolution No. 119 approving a modification to the lease for the Morris Performing Arts Center Project and approving the execution of an addendum to the lease. Mrs. Kolata stated that the bond sale was held on Wednesday, February 18, 1998 and received an interest rate of 4.95%. City Securities is the purchaser of the bonds. The closing on the bonds is scheduled for March 4, 1998. • Mr. Rampola explained that Resolution No. 119 reduces the lease rental and amends the project description contained in the lease. The project has been finalized so that the legal descriptions have been clearly defined now. The Authority will own all of the property upon which the improvements are done except for an alleyway and the Water Works' parking lot. We will get easements for these properties. Mrs. Kolata stated that the major reason for changing the legal descriptions is that the location and positioning of the loading docks has been modified from the original design.