HomeMy WebLinkAbout6.A.(3) Staff report Rink Riverside disposition~c~~
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1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021
To: Redevelopment Commission
From: David Relos, Economic Development Planner
Subject: Staff Report & Presentation -Rink Site Development Plan
Date: February 19, 2010
Today for your consideration is a development plan for the Rink site, which is situated at the
corner of East Colfax and Sycamore Streets. It is a 0.83 acre site, which was cleared in
2005, and put through the disposition process in 2006. From that disposition process, two
developers proposed very different development plans, neither of which progressed beyond
the planning stages. In 2008, another development plan was proposed, and it too did not
progress.
In December David Matthews approached the department with development plans for the
site. Similar to the 2008 site plan, this development would include 10 townhouse style
condominiums. As you will see in the upcoming presentation, eight of these units will face
the river, and two will face south on the northern property line. Expected starting prices will
be in the $170,000 range, with minimum sizes of 1,700 square feet. Units will be 2 story, all
brick, with 9 foot ceilings and 2 car attached garages.
The contract for sale is currently being drafted, but will include Commission approval for the
final site plan and development specifications, acompletion date of 36 months, use
restrictions, etc.
The selling price of the parcel is $10,000, with the developer agreeing not to seek tax
abatements for the project (5 year tax savings on 10 units approximated at a minimum of
$82,000). Though the selling price is less than earlier selling prices, all past development
plans relied on the selling price, if not more, to be put back into the development of the site.
Under this plan, the developer is asking for only modest Commission participation, such as
cleaning up the west bank of the river and possible participation in the cost of a retaining
wall along the west and south edges of the development.
Attached are the preliminary site plans for the development. Mr. Matthews will provide a
more detailed presentation of his development plans at the Commission's meeting. Staff
requests approval of these preliminary site plans, and to proceed with the contract for sale
and final site plans and design specifications.
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