10-22-13 Redevelopment Commission Minutes.docx

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South Bend Redevelopment Commission Regular Meeting — Tuesday, October 22, 2013 6. NEW BUSINESS (CONT.) A. South Bend Central Development Area (1) continued... Ms. Schey asked if the Redevelopment Commission is transferring ownership to this company. Mr. Nussbaum responded that the land under which the improvements sit is owned by the Redevelopment Commission. As part of the MOU that was entered into in December 2010, the agreement was that when they made all of the promised improvements, the land would be signed over by Quit Claim Deed to the owners. Ms. Schey asked if the Redevelopment Commission paid $6 million for improvements for the parking garage. Mr. Nussbaum responded that the Redevelopment Commission purchased the parking garage for $6.5 million. All of the proceeds went into the improvements that took place at the Bank. There were both private funds and public funds that went into the project totaling approximately $14 million in improvements, as well as some additional benefits such as 1st Source Bank agreeing to enter into a lease with the owners to continue to stay downtown. Mr. Varner asked if the Redevelopment Commission still owns the parking garage. Mr. Nussbaum responded that we do. Mr. Varner asked if we have an agreement with the hotel for the parking garage maintenance. Mr. Nussbaum responded that we have no maintenance responsibilities for it. Eventually ownership will be passed to the hotel; there are still some obligations that they must meet. Until those obligations are satisfied, the Commission will maintain the parking garage. Mr. Wruble asked how long the lease is for the major tenants that are currently there. Mr. Nussbaum responded that the lease is 10 years from December 2010. Upon a motion by Mr. Downes, seconded b y Commission approved Resolution No. 3181 property to PWA South Bend LP. B. Airport Economic Development Area Mr. Inks and unanimously carried, the approving and authorizing the transfer of real (1) Resolution No. 3179 approving and authorizing the execution of an Addendum to the Master Agency Agreement Amendment #1 (Crooked Ewe Sidewalk Project) Mr. Relos noted that Resolution No. 3179 and the Amendment to the Addendum to the Master Agency Agreement are to support the redevelopment of the old VFW property along the 1000 block of Lincoln Way East into the Crooked Ewe Brewery & Ale House. As a public safety measure, this project will widen the sidewalk, add only one approach to the parking area, and install a 6" curb along the front of the property.