01-03-06 Redevelopment Commission Minutes Minutes Special Meeting

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South Bend Redevelopment Commission Regular Meeting -January 3, 2006 7. PROGRESS REPORTS (CONT.) warehouse was completed, along with Clocktower Center; improvements were made to Olive Road/Nimtz Parkway and Bendix Drive was relocated for the Bosch Project. In all, there was nearly $15,000,000 of private investment made in the development area along with $14,000,000 of infrastructure improvements. There were 230 jobs added in the AEDA. In the South Bend Central Development Area, the East Washington streetscape project is underway; the Commission acquired the three Colley properties (adult businesses); Phase I & II of the Main/Colfax garage repairs are complete; the Rink Riverside Printing property was acquired and the building demolished and offered for sale; and renovation has begun on the South Bend Community School Corporations building. In addition, at least eight new businesses have opened in the downtown: NoMa, Sean O'Casey's Irish Pub, Chicory Cafe, O'Sullivan's Crossing Nicholas J. Salon, Spurious Fugitive Gallery, Belmont Beverage and the Natural Way, and Sit n' Knit. In the Sample-Ewing Development Area we acquired the Arthur Ford properties (adult businesses) and completed the United Drive relocation to facilitate the future expansion of United Beverage. A total of $13,000,000 of private investment was made in the area. In addition, we awarded a $7.9M contract for the demolition of the South Bend Stamping Plant. We applied for and received a $9M Section 108 Loan approval. The CREeD district generates $950,000 in tax increment per year to finance improvements in the Studebaker/Oliver area. In the South Side Development Area, the Erskine Village development project is underway with the completion of several buildings and new businesses open, including Radio Shack, Starbucks, Logan's Roadhouse, Panera Bread, Bed, Bath & Beyond, Kohl's and DSW Shoe Warehouse. The Erskine Commons 20