Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting —April 10, 2012 <br />2011, the Commission approved an <br />Agreement for Sale of Land with Mr. <br />Matthews for this property. As part of this <br />Agreement, Mr. Matthews will construct 10 <br />townhomes as seen in the attached plan, and <br />not commit to seek tax abatements on the <br />development. <br />Items precedent to closing are: <br />1. Commission approval of the final site plan <br />and development specifications <br />2. Proof of financing <br />3. View rights agreement <br />4. Favorable environmental conditions <br />Item 2 is satisfied by this project being self - <br />financed by Mr. Matthews. <br />Item 3 was completed via a view easement <br />granted by the Redevelopment Authority. <br />Item 4 was completed via further <br />environmental study. <br />Today Mr. Matthews presents Item 1, the <br />final site plan and building specifications, for <br />Commission approval. <br />Mr. Matthews noted the updated site plan. <br />Initially the plan was to have a commercial <br />building on the corner and a second <br />commercial building and ten row homes. <br />The site plan has been revised a bit. The <br />Board of Public Works wanted to eliminate <br />the perpendicular parking that was proposed. <br />The commitment now is for Mr. Matthews to <br />build ten row houses in three years. Shown <br />were examples of two and three story <br />townhomes at two different prices; <br />townhomes at $225,000, which would enable <br />someone making $40,000 to $50,000 per <br />17 <br />