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South Bend Redevelopment Commission <br /> Regular Meeting—February 14, 2012 <br /> 7. PROGRESS REPORTS <br /> Mr. Inks noted that staff has been moving several <br /> projects forward: <br /> 1. VA Clinic date-to-open has been pushed <br /> back to May 1 due to protracted <br /> negotiations. <br /> 2. Coveleski Stadium—the city is ready to go <br /> out to bid on the work it is paying for. The <br /> Redevelopment Commission agreed to <br /> cover $1,750,000 of the cost; the design for <br /> $250,000; the amount being bid is $1.5 <br /> million. $2 million of additional work will <br /> be funded by the team's new owner. <br /> 3. Memorial Hospital—we're close to being <br /> ready to go out for bid for the facade and <br /> skyway work as well as a parking lot. <br /> 4. The senior housing at LaSalle Square is <br /> moving along. <br /> Mr. Downes asked what the status was on the LaSalle <br /> Hotel. Mr. Relos noted that on February 23 the <br /> announcement will be made as to what projects were <br /> awarded New Market Tax Credits. The developers have <br /> been waiting to hear if they are awarded the credits so <br /> they can start working to sell them. Even if they don't <br /> get the credits, they are still very interested in the project <br /> and will look at other ways of financing the project. <br /> The award of tax credits should be announced the end of <br /> June 2012. <br /> Mr. Inks noted that the city received its first payment <br /> from A.J. Wright on the penalties assessed for its <br /> closing at the west side processing building. The check <br /> was for $354,660 (the first of nine payments annually) <br /> per the agreement. We are having some discussion <br /> about where those funds should be deposited. Staff put <br /> that question to the State Board of Accounts last year <br /> and they said they don't have to go back into the area <br /> TIF. <br /> 10 <br />