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South Bend Redevelopment Commission <br /> Regular Meeting—May 31, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> C. West Washington-Chapin Development Area <br /> (1) continued... <br /> Mr. Relos noted that on October 25, 2011, <br /> the Commission entered into an MOU with <br /> South Bend Heritage Foundation, for the <br /> rehabilitation of the historic Rushton <br /> Building, at the northwest corner of W. <br /> Washington and William St. Because the <br /> Rushton was built with common kitchen and <br /> 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 /> Total development costs are estimated to be <br /> $3.4 million. Funding for the project will <br /> come from $2.8 million in Low Income <br /> Housing Tax Credits and $277,700 of <br /> Historic Tax Credits. To fully fund the <br /> project, $322,300 in West Washington <br /> Chapin Development Area TIF was <br /> approved. To facilitate this work, the <br /> Commission approved Access and <br /> Development Agreements on March 27, <br /> 2012. <br /> Commission improvements will allow off- <br /> street parking for residents and visitors, <br /> necessary site utility upgrades, sidewalks and <br /> curbs, landscaping and lighting, exterior tuck <br /> pointing and cleaning, and new thermo <br /> windows. Staff requests approval of <br /> Resolution No. 3 03 5. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.3035 <br /> Mr. Alford and unanimously carried, the APPROVING AND AUTHORIZING THE EXECUTION <br /> Commission approved Resolution No. 3035 OF AN ADDENDUM TO THE MASTER AGENCY <br /> AGREEMENT WITH THE BOARD OF PUBLIC <br /> approving and authorizing the execution of WORKS(RUSHTON REHAB PROJECT). <br /> 21 <br />