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('r—_ ( U) <br />Community & Economic Development <br />rsss <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commission <br />From: Matthew Sikora, Economic Development Planners <br />Subject: Administrative Settlement for acquisition of 921 N. Bendix Drive <br />Date: July 8, 2011 <br />As you may recall, Sterling Group LLC's applied for and received tax credits for a senior <br />housing project (Heritage Place at LaSalle Square) to be developed in the Airport <br />Economic Development Area. The city had agreed to support the project by purchasing <br />property from Faith Apostolic Temple, Inc. and donating it to the development. <br />We are finalizing negotiations with Faith Apostolic Temple, Inc. (including clearing up a few <br />outstanding issues regarding title work) and would like to present an agreement for <br />consideration at the July 12 Redevelopment Commission meeting. The memo (including a <br />proposed administrative settlement) should be available for review on Monday, July 11. If <br />it is not available, this item will be tabled until the July 28, 2011 Redevelopment <br />Commission meeting. <br />What We Do Today Makes A Difference! <br />