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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