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11-07-08 Redevelopment Commission Minutes
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11-07-08 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting -November 7, 2008 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(7) continued... <br />Ms. Laruent said that she has had no <br />indication that Mr. Freidline is stalling on the <br />project. Quite the opposite, he is anxious to <br />move ahead. The delay in closing that was <br />suggested might be a problem. We are trying <br />to get this property into his hands. <br />Ms. King asked if the Commission would <br />have a buyback clause in the event the <br />project did not move forward. Ms. Laurent <br />responded that staff feels, in any use of the <br />building, it is a natural fit for the parking lot <br />to belong to the owner of the JMS building. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission approved the sale of 118 N. <br />Main to John Freidline at $200,000 and <br />instructed staff to prepare a contract for sale <br />of land. <br />(8) Resolution No. 2525 approving of the <br />execution of an Addendum to the Second <br />Addendum to Lease between the South <br />Bend Redevelopment Commission for the <br />Century Center Project and establishing <br />certain funds and accounts relating to the <br />payment of the rentals therefore. <br />Mr. Inks noted that the Century Center bonds <br />finally sold last week, so those improvements <br />can finally move forward. As a consequence <br />of that sale, we now know what the actual <br />lease payments will be, so we need to amend <br />the lease payment schedule that was <br />estimated in the Lease. The original <br />COMMISSION APPROVED THE SALE OF 118 N. <br />MAIN TO JOHN FREIDLINE AT $200,000 AND <br />INSTRUCTED STAFF TO PREPARE A CONTRACT <br />FOR SALE OF LAND <br />12 <br />
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