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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –February 6, 2008 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />F. Northeast Neighborhood Development Area <br /> <br />(1) continued… <br /> <br />of delay, the city has other remedies it can <br />seek beyond the delay fees. <br /> <br />Mayor Luecke thanked the Commission for <br />its strong attention to this project. It is a <br />significant project for South Bend and we are <br />eager to break ground, as is the developer. <br />There has been a lot of intense work to come <br />up with a Development Agreement that <br />reflects the deal we’ve all been anticipating. <br />It is impossible to write an air-tight, no-risk <br />agreement. There will always be some risk <br />on each side. We believe the Development <br />Agreement properly reflects the investment <br />the city has made or will make. He asked for <br />the Commission’s favorable action. <br /> <br />Mr. King asked what stands between this <br />document and a finished development <br />agreement. Mr. Inks responded that there is <br />very little. There are some dates that need to <br />be filled in based on the agreed-to schedule. <br />There may be some additional language on <br />the call provisions. The exhibits to the <br />document also need to be wrapped up. <br /> <br />Mr. Hill stated that any substantive changes <br />would only favor the city. <br /> <br />CD <br />Upon a motion by Mr. King, seconded by <br />OMMISSION APPROVED THE EVELOPMENT <br />ASB <br />GREEMENT BY AND AMONG THE OUTH END <br />Mr. Downes and unanimously carried, the <br />RC,S <br />EDEVELOPMENT OMMISSION THE OUTH <br />Commission approved the Development <br />BRA,C <br />END EDEVELOPMENT UTHORITY THE ITY <br />Agreement by and among the South Bend <br />SBKRG, <br />OF OUTH END AND ITE EALTY ROUP <br />Redevelopment Commission, the South Bend <br />LP. <br />AS PRESENTED AND AUTHORIZED EXECUTION <br />DA, <br />Redevelopment Authority, the City of South <br />OF THE FINALIZED EVELOPMENT GREEMENT <br /> <br />SUBJECT TO FINAL APPROVAL BY COUNSEL <br />Bend and Kite Realty Group, LP.as presented <br /> 16 <br /> <br />