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South Bend Redevelopment Commission <br />Regular Meeting — Thursday, December 12, 2013 <br />6. NEW BUSINESS (CONT.) <br />E. Northeast Neighborhood Development Area <br />(1) continued... <br />much larger structure with 55 luxury condominiums, which is not feasible in the current <br />market. We want to create an environment that remains viable and feasible and helps the <br />area grow. Mr. Relos noted that there are additional residential units going in in that area <br />that were not originally contemplated that make up for the loss of the condominiums in the <br />hotel. <br />Mr. Varner asked if this includes the construction along the east side of the parking garage, <br />adjacent to the hotel site, behind the Fairfield Inn. Mr. Gabet responded that is does. We <br />have a number of reservations on those; we are looking to start construction later this year <br />on finishing out those units. <br />Mr. Varner asked if once these projects are completed, the net assessment will be sufficient <br />to cover the bond payments. Mr. Relos responded staff is working to make sure they are <br />properly assessed. We will have to wait and see when the second hotel goes up, how it's <br />assessed. <br />Mr. Varner asked in the event that the assessment is not met, is there protection for the city. <br />Mr. Relos responded that that is what the delay fee is for. Kite has an incentive to get the <br />project done in time for the taxes to cover the bond payment. <br />Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the <br />Commission approved the Second Amendment to Development Agreement with the South <br />Bend Redevelopment Authority and Kite Realty Group for Eddy Street Commons Parking <br />Garage. <br />F. Douglas Road Development Area <br />There was no business in the Douglas Road Development Area. <br />G. Other <br />(1) Agreement for Professional Services by and between the City of South Bend, Indiana, <br />Urban Enterprise Association of South Bend, Inc., and Tord Gallas and Partners, Inc. <br />Mr. Divita noted that this is a professional services agreement among the Redevelopment <br />Commission, the Urban Enterprise Association of South Bend (UEA), and Torti Gallas and <br />Partners for development of a West Side Corridors Master Plan. <br />The city and its partner in this planning effort, the Urban Enterprise Association (UEA), <br />issued a request for proposals for the development of a market -based strategic revitalization <br />14 <br />