Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—September 27, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> H. Other <br /> (1) Crowe Horwath Project Assignment for <br /> bond refunding (2003 AEDA TIF bond <br /> and 2003 SBCDA TIF bond). <br /> Mr. Inks noted that the Project Assignment <br /> from Crowe Horwath is for financial analysis <br /> related to the issuance of two refunding <br /> bonds. One is to refund Airport TIF bonds <br /> originally issued in 2003 and the other is to <br /> refund a Downtown TIF bond issued in 2003. <br /> It is anticipated the refunding bonds would <br /> be issued at lower interest rates than the <br /> original bonds, thus creating a savings for <br /> Redevelopment. The maturity date of the <br /> refunding bonds would match the maturity <br /> date of the original bonds. Crowe Horwath's <br /> fee for providing the financial consulting <br /> services is $25,000 plus out of pocket costs. <br /> Staff recommends approval of the Project <br /> Assignment. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED CROWE HORWATH <br /> Mr. Varner and unanimously carried, the PROJECT AsSIGNMENT FOR BOND REFUNDING <br /> Commission approved Crowe Horwath (2003 AEDA TI'BOND AND 2003 SBCDA TI' <br /> Project Assignment for bond refunding (2003 BOND. <br /> AEDA TIF bond and 2003 SBCDA TIF <br /> bond). <br /> 28 <br />