6D(19) Staff report: off site improvement to support proposed senior housing dev.

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_ SOUTH e p4 1 11C /, `DPI Community & Economic Development Division of Community Development 1865• 1 200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 ♦ Phone 574/235 -9660 ♦ Fax 574/235 -9697 T o : Redevelopment Staff & Commisioners F r o m : Jeff Vitton, CED S u b j e c t : Staff Report: Off Site Improvement to Support Proposed Senior Housing Dev. D a t e : October 12, 2010 Per the Lasalle Square Area Redevelopment Plan and applicable Redevelopment Commission Resolutions — staff requests the Commissions authorization to execute the attached letter to aid the proposed senior housing project at LaSalle Square. The attached letter commits $367,000 towards the implementation of the LaSalle Square Area Redevelopment Plan through the acquisition and demolition of two properties (1007 and 1003 N Bendix Drive), both of which were previously added to the acquisition list. The budgeted amount will also allow for the demolition and reconstruction of the LaSalle Square Shopping Center sign at 1033 N. Bendix. Furnishing this letter to the Sterling Group will make the project eligible for up to ten additional points (out of 200 possible points) in the system the Indiana Housing and Community Development Authority utilizes to rank proposed developments. This commitment should aid in giving the proposed senior housing project a competitive edge in gaining financing for the project, and, in turn, help support eventual commercial /retail development at the Square. It should be noted that Page 56 of the LaSalle Square Area Redevelopment Plan states, under Recommendations: "Work with a senior housing developer to come to the Square. This development seems ideally suited to be situated in the vacant parcel to the immediate east of LaSalle Library, which will preserve the frontage on Bendix Drive to be used for retail development. Bringing in a new development will quickly add residents, improving the likelihood of new retail development for the area." The LaSalle Square Area Redevelopment Plan may be viewed online at www.southbendin.gov /lasallesquare. I will be available to answer any questions you may have at your upcoming meeting. What We Do Today Makes A Difference!