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South Bend Redevelopment Commission <br /> Regular Meeting—May 24, 2011 <br /> 7. PROGRESS REPORTS (CONT.) <br /> buy it. Mr. Inks wanted to bring that to the <br /> Commission's attention before the closing. Staff will <br /> be coming back the next meeting with a retroactive <br /> action to be taken unless you have concerns about <br /> proceeding at this point. <br /> Mr. Varner asked what resources were being used to pay <br /> for the acquisition and extension. Mr. Inks responded <br /> that they will be TIF resources. Mr. Varner expressed <br /> concern about an audit. Mr. Inks responded that our <br /> legal department is looking at the legalities. The <br /> anticipation is that we'll use TIF funds to close on this. <br /> Approximately$269,000 for the right-of-way for <br /> approximately 269,000 square feet. Funds are <br /> appropriated. <br /> 8. NEXT COMMISSION MEETING <br /> The next meeting of the Redevelopment Commission is NExT COMMISSION MEETING <br /> scheduled for Tuesday, June 14, 2011 at 4:00 p.m. <br /> 9. ADJOURNMENT <br /> There being no further business to come before the ADJOURNMENT <br /> Redevelopment Commission, Ms. King made a motion <br /> that the meeting be adjourned. Mr. Downes seconded <br /> the motion and the meeting was adjourned at 4:55 p.m. <br /> 29 <br />