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