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South Bend Redevelopment Commission <br />Regular Meeting –October 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. South Bend Central Development Area <br /> <br />(1) continued… <br /> <br />The original Contract for Sale of Land called <br />for the city to reinvest the $10,000 sale <br />proceeds back into the development for a <br />new retaining wall along the western <br />property line. Instead of trying to coordinate <br />that construction with development of the <br />property, staff thought it would be better to <br />let the developer do all of the construction <br />and his own coordination. Therefore, the <br />sale price is being lowered to $1.00 and the <br />developer will construct the retaining wall. <br /> <br />Mr. Relos pointed out other changes in the <br />Addendum. The riverwalk encroaches on the <br />property along its river frontage; therefore, <br />Danch Harner has written a legal description <br />for an easement for the riverwalk which is <br />included in the Contract for Sale of Land. <br /> <br />Also, there were ten feet along the Colfax <br />boundary of the property that were split off <br />years ago. That ten feet isn’t needed by the <br />city for right-of way, so it is being deeded to <br />East Bank Development LLC. The Contract <br />now also contains site plans and building <br />specifications. <br /> <br />Mr. Relos noted that the developer expects to <br />begin construction and complete basements <br />for six units this fall. <br /> <br />Mr. Matthews, East Bank Development, <br />noted that when he first approached the <br />Commission he promised to construct three <br />units in phase one. Phase one now consists <br />of six units along the entire river front. <br /> 9 <br /> <br />