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r~ ~ C Z~ • • .SOUTH o`~ ~ ~ '/ F'~a `i~ ~% z Community & Economic Development =~`~~'`~' _~ ,~ v~~ ~ .1865. ~ 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 'Phone 574/235-9371 Fax 574/235-9021 To: South Bend Redevelopment Commission From: Bob Mathia ~ ~~~/' Subject: Consent To Modification Of Deed Restrictions Date: December 14, 2010 An Indiana not for profit group, Career Academy of South Bend, wants to establish a charter school in the old PEI Genesis's building located at 1915 N. Bendix Drive (parcel number 25-1006-030101). They intend to purchase the property from Appletree Associates, L.P. the real estate holding company for PEI Genesis. The property is located in the Airport Industrial Park, Phase I. The deed restrictions in that park do not permit charter schools to be located there. However, the deed restrictions can be modified if 75 percent of the park's property owners agree to the modification. Career Academy is currently attempting to obtain agreement from the park's property owners to modify the restriction and permit operation of the charter school. They are soliciting the Redevelopment Commission as successor to the original park developer, the Industrial Foundation, to approve their request to modify the deed restriction. The Academy is near to obtaining the required agreement of 75 percent of the park's owners. All of the information necessary for preparation of a document titled "Consent to Modification of Deed Restrictions" that the commission would sign is still being collected and reviewed. As a result, the document could not be completed in time for the Commission meeting on December 17, 2010. But because time is of the essence, the Commission is requested to authorize Marsha Jones, President of the Redevelopment Commission, or Don Inks, Director of Economic Development, to sign this document for the Commission once the review is complete, the document prepared and the 75 percent approval level is achieved. Property Mod..doc What We Do Today Makes A Difference!