Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting — September 16, 2005 <br />6. NEW BUSINESS (CONT.) <br />F. West Washington /Chapin Development Area <br />(1) continued... <br />LaSalle Ave. in the West Washington - <br />Chapin Development Area. <br />G. South Side Development Area <br />(1) Commission approval requested for <br />Addendum to Development Agreement <br />with Anchor Acquisitions, Ltd. <br />Ms. Greene noted that the Addendum <br />changes some of the dates that were in the <br />original Development Agreement to make <br />them more consistent with the actual project <br />schedule. The Addendum also expressly <br />notes that the Commission has satisfied <br />certain conditions contained in the original <br />Development Agreement. Finally, the <br />Addendum seeks to revise and replace <br />Exhibit G to reflect a change in cost <br />allocation. While the total project cost did <br />not change from the original Exhibit G;, the <br />allocation of those costs did change. Counsel <br />has determined that the allocations are <br />consistent with the authorized use of TIF and <br />EDC funds. Therefore, the changes sought <br />through the Addendum do not adversely <br />impact the project or impose additional <br />obligations on the Commission. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved the Addendum to <br />Development Agreement with Anchor <br />Acquisitions, Ltd. in the South Side <br />Development Area. <br />15 <br />COMMISSION APPROVED THE ADDENDUM TO <br />DEVELOPMENT AGREEMENT WITH ANCHOR <br />ACQUISITIONS, LTD. IN THE SOUTH SIDE <br />DEVELOPMENT AREA. <br />