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South Bend Redevelopment Commission <br /> Regular Meeting—November 8, 2012 <br /> 6. NEW BUSINESS <br /> B. Receipt of Bids <br /> (1) Receipt of Bids for 514 Rush Street, 518 Rush Street, 611 E. South Street, 613 E. South <br /> Street, 618 Lincolnway East, 622 Lincolnway East, 626 Lincolnway East, 636 <br /> Lincolnway East, 701 E. South Street and 700 Blk South Street Vac. Lot in the South <br /> Bend Central Development Area. <br /> Mr. Inks noted that no bids were received for any of these Monroe Park residential <br /> properties. We will continue to work to dispose of these properties, but by law may not bring <br /> back any agreement regarding the sale or lease of these properties for thirty days. <br /> (2) Receipt of Bids for 24505 Cleveland Road in the Airport Economic Development Area. <br /> Mr. Inks noted that no bids were received for this 10-acre tract in the Blackthorn area. We <br /> will continue to work to dispose of this property, but by law may not bring back any <br /> agreement regarding the sale or lease of the property for thirty days. <br /> (3) Receipt of Bids for 2018-2020 S. Main Street, former EMI site in the Airport Economic <br /> Development Area. <br /> Mr. Inks noted that no bids were received for the former EMI site. We will continue to work <br /> to dispose of this property, but by law may not bring back any agreement regarding the sale <br /> or lease of the property for thirty days. <br /> C. South Bend Central Development Area <br /> (1) Agreement for License with 112 West Jeff, LLC for renovation at the southwest corner <br /> of Michigan and Jefferson. (Citizens' Bank& Trust Plaza) <br /> Mr. Kain noted that 112 West Jeff, LLC was planning on investing roughly $6M into the <br /> renovation of the historic building, including work on the inside and outside of the building. <br /> They have asked for assistance with work to the plaza. It is envisioned to be a public space <br /> that can be utilized for special events organized by Downtown South Bend Inc. or other <br /> organizations. The vision is that is really helps anchor that part of town, provides another <br /> venue for public events in the downtown area. The amount for the plaza work is estimated at <br /> $256,708. We have added a small contingency to that in case bids come in higher, so we <br /> request approval $295,214 from the South Bend Central Development Area TIF. <br /> Mr. Varner asked whether improvements such as landscaping and foundation work increase <br /> the assessment. Mr. Inks responded that it is private property, so there is increased <br /> assessment. <br /> 6 <br />