2. Minutes 4/12/11 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting —April 12, 2011 which have not been met. Because those obligations_ have not been met, Jeffcourt is in default of the agreements. The two most noteworthy defaults are: The property was to be closed on by December 15, 2008. The project excavation to begin by March 15, 2009, with construction completed within 24 months and a certificate of occupancy issued. To allow this property to be available for possible future development, those agreements should be formally terminated. To do so, written notice to the developer of its defaults under the agreements is required. Upon notification of default, Jeffcourt will have 30 days to cure the default. If this project can move forward in the future, new agreements would be drafted and brought before the Commission. Staff requests Commission authorization to have Richard Nussbaum prepare and mail the letter of default, providing the right to cure. Following the 30 day period, staff will bring to the Commission a resolution to declare the contract terminated. Jeff Gibney added that as staff continues to work with the College Football Hall of Fame, we need to clear this default, in case the property is needed for the reuse of the Hall of Fame. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission authorized staff to hire Richard Nussbaum to declare contract default and right to cure. (Northwest corner Jefferson and St. Joseph Streets ( Jeffcourt, Inc.) 10 COMMISSION AUTHORIZED STAFF TO HIRE RICHARD NUSSBAUM TO DECLARE CONTRACT DEFAULT AND RIGHT TO CURE. (NORTHWEST CORNER JEFFERSON AND ST. JOSEPH STREETS (JEFFCOURT, INC.)