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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -March 10, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />() continued... <br />We think this kind of transparency is really <br />terrific. We support that regardless of the <br />outcome of the project. We really appreciate <br />that and your time. Thank you. <br />Ms. Jones: You are absolutely right. I think <br />the public appreciates it and they deserve it. <br />That's what we're trying to do Mr. Peterson: I <br />had one comment, as far as the financing. <br />One of the things here in the proposal is the <br />Commission's giving land for $300,000 over <br />and start the financing of it. When you're <br />talking with the banks, are you anticipating <br />having a mortgage on that property, to get <br />your financing as equity, or is your equity, <br />are they securing your commitment <br />elsewhere, so if that just doesn't move <br />forward, because, typically, it would revert <br />back to the Commission so we don't have to <br />acquire it again-make everybody part of the <br />process. <br />Mr. Keen: We think it's good for South Bend <br />and anything that's good for South Bend will <br />make a good project. <br />7. PROGRESS REPORTS <br />There was no report. <br />8. NEXT COMMISSION MEETING <br />PROGRESS REPORTS <br />The next meeting of the Redevelopment Commission is NEXT COMMISSION MEETING <br />a Special Meeting scheduled for Friday, March 24, 2006 <br />at 10:00 a.m. <br />51 <br />