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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - August 13, 1999 <br />6. NEW BUSINESS (CONT.) <br />a. continued... <br />The proposed developer wants to <br />contribute to the growth and development <br />of this very important area of the <br />community. They hope that their plans for <br />this development will enhance their image <br />within this area and the community that <br />they are a part of. <br />In conjunction with this proposal, Richard <br />L. and Karyn L. Best propose to make a <br />contribution in the amount of $550,000 to <br />South Bend Heritage Foundation. South <br />Bend Heritage Foundation is a 501(c)(3) <br />community development corporation, <br />which has worked very successfully in <br />South Bend's downtown neighborhoods <br />for 25 years. South Bend Heritage <br />Foundation will receive $400,000 upon the <br />successful awarding of this bid and <br />execution of the Contract for Sale of Land <br />for private development. The remaining <br />$150,000 will be given to South Bend <br />Heritage Foundation one year after the <br />date of the Contract. There are no <br />conditions attached to this grant to South <br />Bend Heritage Foundation, other than the <br />applicants being the successful bidder for <br />the site and the execution of the Contract. <br />The applicants are supporting the efforts of <br />South Bend Heritage Foundation in the <br />greater downtown area to assist in overall <br />redevelopment strategies. <br />-7- <br />