...
Die
REALTY
GROUP
ByIler1I1ce
The regular monthly meet
ing of the Downtown
Development Authority
(DDA) and the Tax Incre
ment Finance Authority
(TIFA) Boards held on
Wednesday, May 10.
The Director of the boards,
Aaron Anthony was given the
go. cad to purchasing a $1
million liability indemnifica
tion insurance policy, through
the John De Vries Agency, St,
Jose ph, I Michigan for the
amount of $2,500 for the
board members for pcotectio
from la uits. The S2,5OO fee
will be plit between both
DDA and TIFA Boards.
Mayo William Wolf . d
he j like to see all the
board �embers protected
against aD lawsuits.
SALE 0 111 VINCENT
Durin the DDA meeting
Christopher Sroo Chair
man of e Board and also a
membei' of the committee
sell the Yincent Place, gave
the board an update 0 the
of the Vincent
Brooks told the board that
the Vincent was sold for
S2OO,<XXl to Perry Ballard and
Theodore Smith d a check
for S20,� (10%) of the Ie
has already been received and
put into escro . Cl ing date
for the . June 15, 1989.
He also tated that the Vin
cent VI advertised national
ly, prom . 8 or 9 pro
from both in and out of Ben
ton Harbor.
Brooks said the City of
Benton Harbor will pay TlFA
$9,000 from the sale of the
Vincent for the fitness equip
ment they purchased for the
city.
DE otrno P OJECf
.Aaron Anthony, gave
update of the demolition
project, st ting that the
demolition project is -going
smoothly" and will proceed on
with the demolition of the old
Cunoingb m Drugs building.
A hold was put on the
demolition of Cunningham
Drugs building when Richard
Ray, a city resident made a
proposal� buy the buildiDg
for $1, and rehab . fo
retail an commercial use.
The city turned down Ray' .
offer and decided to go cad
with the ddmolitioa.
-I ould like to
demolitio with the
year", Anthony added.
year ends JUne 30.
I
Mayor Wolf inlormed
to appoint someone to take
her place.
Also the board accepted
resignation of J cqueline
11, Administrative Ass' tant
t the board, effective May 12
ell st rted with the DDA
dinFebruary,1988.She
. d she will start a DC job
'th the City May 15 in the
mance Department
In other busin the board
voted unanimously to ap-
ove:
- An amount of Usa for
1 terheadlstationary for the I
board The total amount of the
b'll' $1,086.16, with DDA
ying60%.
- To pay $813 for in- .
s anee on a van that is leased •
theDD board
- A pproved paying
$ ,285.05 in wage Ifringes
f om Jan ary thru April to
on Anthony.
- Approved paying an
a unt of S45,5lll to Allen
emolition Contractors,
S ginaw, Michigan for
molition of buildings in the
DDAarea.
� I I I
During the Tax lnae t
F nance Authority bo rd
eting Anthony introdu d
8 ian P ngle, manager of
nest &. Whitney, public c
c unting firm, Pittsbu g,
� mi., o i overseeing an
treach Program, mee
th pr pective tenants or
Incubator.
Pangle told the bo rd ...
mbers that he have met
th over 70 pers pective
t ts who have expr ed
interest in the lncub tor.
Pangle said he' putting
t ether a "24 month opera
. nal plan" for the incubator.
H said office pace will be
sold for $3.50 to $4.50 per
are foo
"By June the Incub tor
s uld be 75% filled", said
P e.
One business is already in
tb incubator and' occuping
1, quare foot of sp ce, ac
ding to Pangle.
In other busin Anthony
in ormed the board th t he
had made an offer for the
pr perty on the corner of
Se nd and Main Streets,
be onging to G fill Oil, but
ha no yet heard from them.
other business board
vo ed unanimously to ap
pr
- To pay a bill for $433.66
for letter eadl tationary for
th TIFA board. TIFA i
paying 40% of the $1,084.16
bi while DDA pay 60%.
Pay a gas bill for the 10-
tor in the amount f
.32.
To pay an ount qf
.45 to Aaro AnthoQ)'
w.cW'!CIIriI'II"'" for January
• 'f