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South Bend Redevelopment Commission <br />Regular Meeting — August 23, 2011 <br />5. OLD BUSINESS <br />There was no Old Business. <br />6. NEW BUSINESS <br />THERE WAS NO OLD BUSINESS <br />A. South Bend Central Development Area <br />(1) Resolution No. 2934 terminating a <br />Contract for Sale of Land for Private <br />Development between JeffCourt, Inc. and <br />the South Bend Redevelopment <br />Commission dated June 6, 2008, and a <br />Development Agreement by and between <br />South Bend Redevelopment Commission <br />and JeffCourt, Inc. dated June 6, 2008. <br />Mr. Relos noted that Resolution No. 2934 <br />terminates a Contract for Sale of Land for <br />Private Development between JeffCourt, Inc. <br />and the South Bend Redevelopment <br />Commission dated June 6, 2008, and a <br />Development Agreement by and between the <br />South Bend Redevelopment Commission and <br />JeffCourt, Inc. dated June 6, 2008. On April <br />12, 2011, the Commission authorized <br />Richard Nussbaum II, Attorney -at -Law, to <br />prepare notices of default for the Contract for <br />Sale, First Amendment to the Contract, and <br />Development Agreement with Jeffcourt, Inc, <br />for the Commission -owned lot at the <br />northwest corner of Jefferson and St. Joe <br />streets. <br />As part of these agreements, Jeffcourt had <br />certain obligations, which have not been met. <br />Because these obligations have not been met, <br />Jeffcourt is in default of the agreements. The <br />two most noteworthy defaults are: <br />• Property was to be closed on by <br />December 15, 2008. <br />4 <br />