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South Bend Redevelopment Commission <br />Regular Meeting —April 17, 2003 <br />6. NEW BUSINESS (CONT.) <br />F. South Side Development Area <br />(1) continued... <br />which will be the Phase I opening. Over the <br />following year, gradual redevelopment of <br />the entire site will be completed. Kite has <br />been working with the existing tenants, <br />some of which are going to stay; others <br />would like to leave, and remaining leases <br />will be bought out. Kite hopes as the project <br />develops, tenants will like the quality of <br />development and will choose to stay. Kite is <br />also working with several new tenants that <br />are not currently in this market and will be <br />coming to the area by means of STIF <br />financing. Primarily, Kite will be creating a <br />very nice "village type" environment with <br />outdoor seating, nice lighting, restaurants, <br />retail space and lots of amenities for people <br />who visit the site. Kite believes the mall <br />redevelopment is a great project and they are <br />looking forward to getting started. <br />Mayor Luecke added that the Mall <br />redevelopment project will set a tone for <br />future investment on the South Side as a <br />viable regional market place. <br />Mr. Hunt commented that he believes the <br />residents on the South Side will receive <br />redevelopment of the area with great <br />enthusiasm. <br />Upon a motion by Ms. Jones, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved the Memorandum of <br />Understanding (MOU) between Kite <br />Construction Company and the City of <br />ILSouth Bend Redevelopment Commission. <br />16 <br />COMMISSION APPROVED THE MEMORANDUM OF <br />UNDERSTANDING (MOU) BETWEEN KITE <br />CONSTRUCTION COMPANY AND THE CITY OF <br />SOUTH BEND REDEVELOPMENT COMMISSION. <br />