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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />to which traditional local public improvements are subject. This Second Amendment does not amend the <br />forgivable loan fund amount or details. <br />This Second Amendment would also amend the Agreement by incorporating the following provisions: <br />•Updating a reference to when the loan agreement with the Developer must be executed <br />•Clarifying when commitments under the Development Agreement have been met <br />•Other standard development agreement provisions, including the description of local public <br />improvements, that are necessary for the Commission to purchase siding materials <br />Staff recommends approval of the Second Amendment. The Monreaux project is vital to the stabilization and <br />continued growth of the southern end of downtown South Bend. In addition to providing needed affordable <br />housing options, the project along with others in the area will be transformative.