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South Bend Redevelopment Commission <br />Regular Meeting –February 6, 2009 <br /> <br />funds to be used to reconstruct and widen <br />Douglas Road to a commercial roadway <br />standard. <br /> <br />After two years of work, the funding for the <br />road project is in place, the road construction <br />project has been awarded, Memorial Home <br />Care has been built and Brown Mackie <br />College will be ready for students this fall. <br />One of the final pieces of the project is to <br />execute the attached reimbursement <br />agreement. <br /> <br />The agreement covers two items: right of <br />way acquisition and road design. The <br />agreement stipulates the payment of Two <br />Hundred Forty-four Thousand One Hundred <br />Sixty-six Dollars ($244,166.00) to acquire <br />necessary right-of-way from four property <br />owners and One Hundred Eighty Thousand <br />($180,000.00) to acquire plans for the <br />roadway and pay related expenses paid to <br />Abonmarche Consultants of Indiana. The <br />total reimbursement agreement amount is <br />Four Hundred Twenty-four Thousand One <br />Hundred Sixty-six Dollars ($424,166.00). <br />Funding for this reimbursement agreement is <br />included in the funding plan that was <br />developed for this project. Staff requests <br />favorable approval of this reimbursement <br />agreement. <br /> <br />Mr. Perri noted that the city has made a good <br />deal on this. Holladay Properties spent in <br />excess of $500,000 on the city’s behalf in <br />2005 and will get reimbursed for $425,000. <br />But Holladay is very happy to finally have <br />this agreement. Bill Schalliol has worked <br />very hard to move this forward. Mr. Perri <br />said he hopes development in that area <br />increases because of the road improvements. <br />Holladay owns other properties out there. <br /> 15 <br /> <br />