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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -March 10, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(1) Commission approval requested for <br />Contract for Sale of Land with South <br />Bend Chocolate Company, Inc. in the <br />South Bend Central Development Area. <br />(Former Osco's site) <br />Ms. Laurent noted that on December 16, <br />2005 the Commission received a proposal <br />from South Bend Chocolate Company for the <br />purchase and redevelopment of the former <br />Osco Drug site at 128 South Michigan St. <br />On January 3 staff made its report to the <br />Commission and, as directed by the <br />Commission, presented evidence and <br />proposed findings to the Commission on <br />January 17, 2006 in support of the purchase <br />price offered in the Developer's proposal, as <br />well as an analysis of the Developer's <br />intended uses for the property. The <br />Commission adopted said findings at the <br />January 17, 2006 meeting. <br />South Bend Chocolate Company plans to <br />expand the space of its current tenant, <br />Nicholas J. Spa, and the South Bend <br />Chocolate Company would become a <br />flagship store, expanding with a card, <br />convenience and candy store. Staff believes <br />this is a phenomenal project for downtown <br />South Bend. <br />Before the Commission today is a signed <br />Contract for Sale of Land which <br />memorializes the terms of the sale which <br />terms had been previously agreed to by the <br />Commission. South Bend Chocolate <br />Company would like to close on the real <br />estate transaction within the next week or <br />4 <br />