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2. Minutes 11/6/09 Meeting
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2. Minutes 11/6/09 Meeting
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11/18/2009 9:29:45 AM
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South Bend Redevelopment Commission <br />Regular Meeting -November 6, 2009 <br />5. OLD BUSINESS <br />A. South Bend Central Development Area <br />(1) continued... <br />Properties, and requesting issuance of a <br />Certificate of Completion and return of the <br />performance guarantee. The letter states the <br />Center consh•ucted a children's facility on the <br />Crescent Properties. However, the plans for <br />another building, the Geropsychology <br />Institute, located along Niles Avenue north of <br />the Crescent Properties, were enlarged to <br />house retail space, training areas and patient <br />areas originally planned for• the children's <br />facility. The gi°oup home was moved from <br />the Crescent Properties to the corner of <br />Turnock Street and South Bend Avenue with <br />the collaboration of officials from the <br />Northeast Neighborhood Revitalization <br />Organization (NNRO) and the City. That <br />group home accommodates eight patients. <br />Additional facilities completed as part of the <br />expansion plan included the Sunshine Club, <br />an ADHD clinic and renovation of the <br />Providence House. The total expansion plan <br />cost $4 x,000,000 and resulted in the addition <br />of five new facilities and the launch of new <br />and expanded programs to service clients. <br />Mr. Mathia noted that the $480.000 Madison <br />Center paid for the Crescent Properties <br />exceeded the lower of the two appraisals <br />completed by MAI appraisers for the <br />Commission at the time of sale (5473,000 <br />and $570,000). That price also exceeded the <br />estimated 5450,000 investment the <br />Commission had made in the properties. <br />While not all of the facilities planned for the <br />Crescent Properties were built there, they <br />4 <br />
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