Laserfiche WebLink
South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - November 17, 1989 <br />6. NEW " INESS (Cont.) <br />h. continued... <br />tly being paid with tax increment. <br />No taxes will be levied to pay for this <br />bord, but we will seek the ability to <br />1 taxes if there is ever a shortfall. <br />TW.s fall back option allows us to have <br />leos coverage and to make better use of <br />th4 tax increment. <br />term of the bond is proposed as <br />ty-two years. <br />Mr. Piasecki remarked that this is a very <br />aubitious program. <br />Mr luecke noted that the Council <br />continues to have questions about the <br />ownership/lease of park land by the <br />Redevelopment Commission. He expects <br />the t issue to creme up again when this <br />item is before the Common Council. Mrs. <br />Ko ata responded that the Authority will <br />only acquire a small strip of Howard Park <br />al ng the river for construction of the <br />wall. At Viewing Park, because of the <br />driveway and parking lot work, the <br />acquisition will be more extensive. In <br />order to use this kind of financing, the <br />Au�hority must own the land. It is <br />ev one's intention that the park <br />p revert back to the Park <br />t when these projects are <br />. Kolata noted that the staff has done <br />a very detailed work on a tight <br />eline to have this ready for the <br />mission at this meeting, including <br />ting some of the legal descriptions. <br />noted that Martha Lantz, secretary <br />the Redevelopment staff, came in on <br />ember 10, a holiday for the office, to <br />e all of the legal descriptions for <br />s lease. She did a very accurate job <br />the sacrifice of her holiday was much <br />-23- <br />