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South Bend Redevelopment Commission <br /> Regular Meeting—March 27, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Airport Economic Development Area <br /> (5) continued... <br /> certain commitments to Ignition Park to <br /> provide power there. This won't interfere <br /> with that commitment in any way, will it? <br /> Mr. Inks responded that this provides greater <br /> power throughout that area which will help <br /> meet those commitments. Mr. Relos added <br /> that the eventual need is a redundant power <br /> source. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE MEMORANDUM OF <br /> Mr. Varner and unanimously carried, the UNDERSTANDING WITH UNION STATION <br /> Commission approved the Memorandum of PROPERTIES FOR THE RENAISSANCE DISTRICT, <br /> PHASE I. <br /> Understanding with Union Station Properties <br /> for the Renaissance District, Phase I. <br /> C. West Washington-Chapin Development Area <br /> (1) Development Agreement with South Bend <br /> Heritage Foundation , Inc. for <br /> rehabilitation of 501 W. Washington St. <br /> (former Rushton Bldg). <br /> Mr. Relos noted that on October 25, 2011, <br /> the Commission entered into a Memorandum <br /> of Understanding (MOU) with South Bend <br /> Heritage Foundation (SBHF) for the <br /> rehabilitation of the historic Rushton <br /> Building, at the northwest corner of W. <br /> Washington and William Streets. Because <br /> the Rushton was built with common kitchen <br /> and dining areas, and has stood vacant since <br /> 2002, extensive remodeling of the building is <br /> required. The building will be converted into <br /> a 23-unit, low-to-moderate income senior <br /> housing complex. <br /> 19 <br />