2. Minutes 11/2/10 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Rescheduled Regular Meeting — November 2, 2010 at $9.5 million dollars. Upon a motion by Ms King, seconded by Mr. Alford and unanimously carried, the Commission approved Resolution No. 2796 approving and authorizing the execution of an Addendum to the Master Agency Agreement (Coveleski Stadium Improvements — Phase 2) (7) Resolution No. 2798 a Preliminary Bond Resolution of the South Bend Redevelopment Commission authorizing the issuance of South Bend, Indiana, Redevelopment District Revenue District Bonds (Coveleski Improvements) Mr. Inks noted that the $4,980,000 bond has a term of up to twenty years. The bonds would be taxable. With the 40% interest rebate, the actual interest rate falls below that of tax exempt bonds. Repayment is from the Professional Sports Development Fund with COIT backup. Upon a motion by Ms King, seconded by Mr. Alford and unanimously carried, the Commission approved Resolution No. 2798, a Preliminary Bond Resolution of the South Bend Redevelopment Commission authorizing the issuance of South Bend, Indiana, Redevelopment District Revenue District Bonds (Coveleski Improvements) (8) Project Assignment proposal for financial consulting services related to Coveleski Stadium bond issue. Mr. Inks noted that the Project Assigment is a standard agreement with Crowe Horwath which has done excellent work for us in the past. Staff recommends hiring them as a 14 COMMISSION APPROVED RESOLUTION NO. 2796 APPROVING AND AUTHORIZING THE EXECUTION OF AN ADDENDUM TO THE MASTER AGENCY AGREEMENT (COVELESKI STADIUM IMPROVEMENTS - PHASE 2) COMMISSION APPROVED RESOLUTION No. 2798, A PRELIMINARY BOND RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF SOUTH BEND, INDIANA, REDEVELOPMENT DISTRICT REVENUE DISTRICT BONDS (COVELESKI IMPROVEMENTS)