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South Bend Redevelopment Commission <br />Regular Meeting -May 19, 2006 <br />6. NEW BUSINESS (CONT.) <br />I. South Side Development Area <br />(4) Staff report on disposition of property in <br />the South Side Development Area. (505 E. <br />Ireland Rd.) <br />Mr. Schallio 1 noted that on April 21, 2006 <br />the Commission opened bids for the <br />disposition parcel at the corner of Ireland and <br />Fellows. The proposal did not conform to <br />the Bid Specifications and Design <br />Considerations in that the price offered did <br />not meet the offering price. The proposed <br />project is a 3,200 sft, 2-phased office <br />building. The developer is a local developer <br />with two tenants already guaranteed to the <br />project. Staff will continue to negotiate the <br />price with the developer over the next couple <br />of weeks and will make a recommendation at <br />the next Commission meeting. <br />J. Northeast Neighborhood Development Area <br />(1) Commission authorization requested to <br />submit loan application to City of South <br />Bend for South Bend Cleanup Revolving <br />Loan Fund in an amount not to exceed <br />5300,000 for 1340 South Bend Avenue in <br />the Northeast Neighborhood Development <br />Area. <br />Ms. Kolata explained that the City of South <br />Bend received a grant from the U.S. EPA to <br />establish a brownfield cleanup revolving loan <br />fund. This is a request to submit an <br />application to that loan fund for remediation <br />activities at 1340 South Bend Avenue. In <br />2003 -2004 the City remediated the former <br />landfill adjacent to this property and created <br />Fredrickson Park. At that time it was <br />STAFF REPORT ON DISPOSITION OF PROPERTY IN <br />THE SOUTH SIDE DEVELOPMENT AREA (SOS E. <br />IRELAND RD) <br />31 <br />