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1 <br /> l <br /> I <br /> 4 <br /> 4 <br /> 4 South Bend Redevelopment Commission <br /> Regular Meeting—August 14, 2014 <br /> 3. APPROVAL OF CLAIMS (CONT.) <br /> i <br /> 430 FUND SOUTH SIDE DEVELOPMENT TIF AREA#1 <br /> I DLZ 3,280.00 Fellows St. Right of Way <br /> 3 <br /> I Jackson Services 8,500.00 Demo of 4404 Fellows St <br /> DLZ 280.00 Ireland Right of Way <br /> 1 Christopher B. Burke Engineering, LLC 1,556.25 South Side Corridor Improvements <br /> 426 FUND SOUTH BEND CENTRAL MEDICAL DISTRICT <br /> Reith Riley Construction Memorial Parking Ph. 3B <br /> i <br /> Total $853,392.14 <br /> Ms. Schey asked for an update on the Ivy Tower project as there is a significant claim for that <br /> project on the Claims List. Mr. Zeeb responded that to date the Commission has spent $1,265,940 <br /> on the project, including PCB removal, asbestos removal, the environmental consultant fees, and the <br /> Phase I and Phase II site assessments. That large claim was the first charge for lead based paint <br /> removal. <br /> a <br /> Mr. Zeeb also addressed another question Ms. Schey had posed: whether the Ivy Tower has received <br /> any other public funding. Any project of this size would always apply for state and federal credits. <br /> Kevin Smith and his team have done that. Those applications are under review and pending <br /> 1 approval. We are optimistic those funds will be coming into the pipeline shortly. <br /> I <br /> I Ms. Schey also asked what taxes Ivy Tower currently generates. Mr. Zeeb noted that the building <br /> generates $48,379 in tax revenue. That includes all the parcels that are owned by Kevin Smith. <br /> 1 Ms. Schey asked when the building is expected to be fully functional. Mr. Zeeb responded that there <br /> 1 are too many pending issues to give an accurate timeline, the largest being the environmental <br />, remediation. Mr. Smith and his team are anxious to get into the building to start remodeling. The <br /> contract for lead based paint remediation is anticipated to be completed in January 2015. <br /> I <br /> Ms. Schey asked about the potential expressed in 2012 for residential units on the top floors. Mr. <br /> Peterson responded that there is a high demand for market rate housing in the downtown and this <br /> building has some of the best views of the downtown and the skyline. The difficulty in pursuing <br /> residential development is the large amount of environmental work that still needs to be done. You <br /> can't talk specifics with individuals who would be interested when you are two years out from being <br /> able to develop it. <br /> I <br /> 1 Upon a motion by Mr. Downes, seconded by Ms. Schey and unanimously carried, the Commission <br /> I <br /> approved the Claims submitted August 14, 2014. <br /> 4. COMMUNICATIONS <br /> i <br /> I There were no Communications. <br /> i <br /> 1 <br /> 3 <br /> a <br /> 1 <br /> i <br /> 1 <br />