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South Bend edevelcpment Commission <br />Regular Mee ing - October 12, 1990 <br />6. NEW BUSINESS (Cont.) <br />7. <br />1. continued... <br />ownership of the properties in the River <br />Glen Office Park. Mr. Perry is here to <br />get a confirmation from the Commission <br />that: the Golden Cat Corporation is <br />basically going to stand in the place of <br />Ed lowe Industries as far as those <br />devEacpmental requirements on that vacant <br />prolexty are concerned. The sale of the <br />proje,rty to Golden Cat Corporation does <br />not trigger a requirement that <br />comctruction take place on the vacant <br />but, if construction on the <br />vacznt parcel takes place by Golden Cat <br />or successor owners, then the <br />reqLirements do apply to Golden Cat. <br />Mr. Perry stated that a similar process <br />was required in 1985 when Dr. Harrington <br />purcbased a parcel from Edward Lowe, <br />Inc.. A formal agreement was entered into <br />with the Redevelopment Commission that <br />controlled the development and set <br />certain terms and conditions such as <br />reqL.iring a Certificate of Completion. <br />Upon a motion made by Mr. Donoho seconded <br />by Pt. Piasecki and unanimously carried, <br />the Commission approved the agreement <br />clarifying the restrictions on the <br />property Golden Cat Corporation will be <br />'Purdiasuiq from Ed Lave Industries. <br />Ms. Hic y commented on the work that has <br />begun or, the old Penney's building. Also, <br />Stormin's a new night club above Gilbert's <br />will be opening soon. <br />Mr. Wolf commented that Main Street Raw will <br />be openi ng the week of October 15th. Mr. <br />Wolf wanted to commend the Commission for <br />their work on the Morris Civic Plaza. <br />-10- <br />COMMISSION APPROVED THE <br />AGII�j <br />CTARIFYING THE RESTRICITONS ON <br />THE PROPERTY GOIDEN CAT <br />CORPORATION WIILL BE PURCHASING <br />FROM ED LOWE DSTDUSTRIES E <br />• CENTRAL DEVET-OPNEW <br />I ii -•a• Z4 0100a R <br />