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South Bend Redevelopment Commission <br />Regular Meeting -September 5, 2008 <br />6. NEW BUSINESS <br />E. South Side Development Area <br />There was no business in the South Side <br />Development Area. <br />F. Northeast Neighborhood Development Area <br />(1) First Amendment to Development <br />Agreement with Kite Realty Group, L.P. a <br />Delaware limited partnership. (Eddy <br />Street Commons) <br />Mr. Mathia noted that this amendment moves <br />the call date for the bonds from May 2 to <br />May 20. The call date was set to cover the <br />early refunding of the bonds in case the <br />project did not move forward as planned. <br />There were some things that delayed the <br />finalization of the bonds and the May 2 date <br />was not met, but the bonds have now been <br />sold. This just cleans up the record on that. <br />Mr. Mathia noted that the amendment also <br />reduces the right of way the city will be <br />responsible for, from 5.55 acres to 3.9 acres. <br />There was a little misunderstanding as to <br />what the city would be responsible for <br />maintaining. The amendment on that is in <br />favor of the city. <br />Mr. Varner asked whether this was in any <br />way related to the issue of property <br />ownership. Mr. Gibney responded that it was <br />related to the very final negotiations between <br />Kite and the University of Notre Dame. <br />Mr. Varner asked where that ended up. Mr. <br />Leone responded that he believes a closing <br />did take place shortly before May 20, <br />transferring the property from Notre Dame to <br />Kite. <br />18 <br />NO BUSINESS IN THE SOUTH SIDE <br />DEVELOPMENT UREA <br />