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South Bend Redevelopment Commission <br />Regular Meeting — February 18, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. Sample -Ewing Development Area <br />(2) continued... <br />2005. The insurers, Travelers Indemnity <br />Company, Century Indemnity Company and <br />Pacific Employers Insurance Company have <br />requested that the Commission and the Board <br />of Works approve the tentative agreement <br />prior to March 1, 2005. This would be <br />subject to the approval of the Bankruptcy <br />Court. <br />Staff is requesting approval of a Confidential <br />Settlement Agreement that will be filed with <br />the Bankruptcy Court for its approval and <br />will be subject to terms and conditions that <br />adequately protect the Commission based <br />Iupon advice of legal counsel. <br />Mr. King inquired if legal counsel is <br />specifically asking for authorization to <br />proceed on this matter. <br />Ms. Greene replied, yes. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved the Confidential <br />Settlement Agreement and Release between <br />the City of South Bend, Indiana, the South <br />Bend Redevelopment Commission, the <br />Travelers Indemnity Company, Century <br />Indemnity Company and Pacific Employers <br />Insurance Company — subject to City of <br />South Bend legal counsel review and <br />approval of U.S. Bankruptcy Court. <br />20 <br />COMMISSION APPROVED THE CONFIDENTIAL <br />SETTLEMENT AGREEMENT AND RELEASE <br />BETWEEN THE CITY OF SOUTH BEND, INDIANA, <br />THE SOUTH BEND REDEVELOPMENT <br />COMMISSION, THE TRAVELERS INDEMNITY <br />COMPANY, CENTURY INDEMNITY COMPANY <br />AND PACIFIC EMPLOYERS INSURANCE COMPANY <br />- SUBJECT TO CITY OF SOUTH BEND LEGAL <br />COUNSEL REVIEW AND APPROVAL OF U.S. <br />BANKRUPTCY COURT. <br />