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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – 08.22, 2024 <br /> <br />5 <br /> <br />challenges that this property has are topographic challenges as well as <br />the requirement of rebuilding the retaining wall and there's been <br />historically some environmental issues. There are some amounts of <br />arsenic and lead that require remediation. Heartland Environmental did <br />testing and it is extremely expensive to remove and clear all of the <br />debris. Mr. Sieradzki explained that, 20 feet of soil doesn’t support <br />construction. So advanced construction techniques would be required. <br />They would use helical piers, and then the construction would go on <br />top. He indicated that this is a big expense. <br /> <br />Vice President David Relos asked if the retaining wall of the office <br />building to the North will be redon and Mr. Sieradzki explained it would <br />with planters and it will be beautiful. Century Builders will be paying for <br />the wall at the Atrium Building to make the site attractive to buyers. <br />The floor was opened to the public and following a question by Matt <br />Barrett on 110 S. Niles Ave., what is the city’s position with subsidizing <br />high priced real estate. Caleb Bauer, Executive Director of the <br />Department of Community Investment, stated that this site would not <br />have been a viable site if the city hadn’t gotten involved with a <br />redevelopment agreement due to the environmental aspect to offset <br />some of that cost. He explained that's really the reason we're <br />proposing this to the Commission with the uniqueness of the site, the <br />challenges of the site, and its market rate. Mr. Bauer says the market <br />will eventually handle it and we’ve seen unprecedented growth in the <br />River East development area. <br /> <br />Upon a motion by Commissioner Eli Wax to approve, seconded by <br />Vice President David Relos, the motion carried unanimously; the <br />Commission approved the Redevelopment Agreement as presented <br />on August 22, 2024. <br /> <br />2. Budget Request (ND to DTSB Trail) <br /> <br />Ms. Charlotte Brach, Senior Engineer, is asking for a budget request of <br />$500,000 to replace old water mains, adding separate storm sewers, <br />full road reconstruction, curbs, raised intersections, raised crossings, <br />landscaping, and wayfinding signage. This project is currently under <br />construction and the city has contributed $4 million through a bond as <br />well as the Notre Dame University and the Hotel/Motel tax. <br />Commissioner Eli Wax asked what the city’s total commitment and Ms. <br />Brach is stated $4 million. Commissioner Wax asked from what <br />revenue source is this coming from, and Mr. Bauer stated, the debt <br />service on this bond is paid through the River East development area <br />on this portion of the bond. He said, As Ms. Brach mentioned, $7 <br />million is brought to the table from the partners, $3.5 million from ND <br />University, $3.5 million from the Hotel/Motel Tax, and then the city