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South Bend Redevelopment Commission <br />Regular Meeting — October 1, 2010 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatement <br />(1) continued... <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved Resolution No. 2776 <br />approving an application for real property tax <br />deduction for property located at 926 North <br />St. Peter Street in the Northeast <br />Neighborhood Development Area. <br />C. South Bend Central Development Area <br />(1) Amendment to Listing Agreement with <br />CB Richard Ellis (Hotel LaSalle and <br />vacant lot at Colfax and Hill St) <br />Mr. Relos noted that this is an amendment to <br />an existing Listing Agreement with CB <br />Richard Ellis for marketing of the Hotel <br />LaSalle and the vacant lot at Colfax and Hill <br />St. This amendment extends the agreement <br />for one year and clarifies one paragraph that <br />talks about the broker commission payment. <br />If we sell the property for a minimal amount, <br />such as one dollar, CBRE will receive a <br />commission based on the asking price. Mr. <br />Relos noted that since the properties were <br />listed with CBRE, we have had four very <br />strong developers from across the country <br />look at the LaSalle Hotel. We continue to <br />work with two of them. <br />Mr. Varner asked if there has been interest in <br />the Colfax /Hill property. Mr. Relos <br />responded that he is not as familiar with that. <br />Mr. Kain of Downtown South Bend is <br />project manager for the East Bank Plan. St. <br />Joseph Catholic Church is interested in it, but <br />7 <br />COMMISSION APPROVED RESOLUTION NO. 2776 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 926 NORTH ST. PETER STREET IN <br />THE NORTHEAST NEIGHBORHOOD <br />DEVELOPMENT AREA <br />