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South Bend Redevelopment Commission <br />Regular Meeting –May 21, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />E. Airport Economic Development Area <br /> <br />(2) continued… <br /> <br />Mr. Vitton noted that Resolution No. 2688 <br />adds a portion of 921 N. Bendix – property <br />currently owned by Faith Apostolic Temple – <br />to the acquisition list. The purpose of the <br />proposed action is to help support the <br />development of senior housing at LaSalle <br />Square, which the LaSalle Square Area <br />Redevelopment Plan specifically calls for at <br />the site in question. The site is a vacant field <br />between the LaSalle Square Library Branch <br />and commercial properties along Bendix. <br /> <br /> The Sterling Group, of Mishawaka, in <br />partnership with Memorial Hospital, is <br />seeking funds through the Indiana Housing <br />and Community Development Authority <br />(IHCDA) to develop 72 units of rental <br />housing for low and moderate income <br />seniors. The Sterling Group applied for the <br />funding last winter, but due to a very <br />competitive funding cycle they did not <br />receive the necessary funding. The IHCDA <br />ranks potential projects on an objective point <br />system, and distributes the funds to highest <br />scoring applicants in particular set-asides <br />until the funds are exhausted. ICHDA gives <br />additional points to projects that are on land <br />owned by a governmental unit. Therefore, <br />the Redevelopment Commission’s <br />acquisition and disposition of the site to the <br />Sterling Group will make the project more <br />competitive for funding in this year applicant <br />pool. <br /> <br /> Staff requests that the Commission approve <br />declaratory Resolution No. 2688 initiating <br />the process to add the property to the <br /> 12 <br /> <br />