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South Bend Redevelopment Commission <br />Regular Meeting — August 9, 2011 <br />Commission approved the loan and grant in LOCATED AT 710 S. 30T" STREET. <br />connection with the South Bend Home <br />Improvement Program for property located at <br />710S.3 01h Street. <br />B. South Bend Central Development Area <br />(1) First Amendment to Construction, <br />Easement, Restriction and Operating <br />Agreement. <br />Mr. Richard Nussbaum noted that on <br />August 4, 2011, there was a formal closing <br />whereby the Host Resort transferred the <br />Marriott hotel to the Jenna Investment Group <br />which will now be opening a Doubletree <br />Hotel. In conjunction with that there are two <br />small post- closing items. We did estoppel <br />agreements for these particular agreements <br />pre - closing, but the parties have amended <br />both of those agreements. The first <br />amendment relates to the walkway easement. <br />The fourth amendment relates to the atrium <br />and some areas outside the facility for <br />upkeep. The name has been changed from <br />Host to Jenna. Some ground rules were <br />established so that if ownership changes with <br />regard to the hotel or the office building, the <br />estoppel agreements would institutionalize <br />and come back before the various parties at <br />that time. It does not mean that anyone is <br />contemplating selling anything at this point.; <br />nor does it change the responsibilities of the <br />city with regard to any of these agreements; <br />nor does it change the commitment of 1st <br />Source Bank which has no relationship to <br />these agreements. 1 S` Source Bank has <br />signed a lease for its space and will be in the <br />building for the next ten years. <br />Mr. Nussbaum advised the Commission that <br />the changes are very routine, very non- <br />8 <br />