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Community & Economic 6c( 1) Development 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 — Jefferson & Niles Development Plan Date: June 14, 2011 Today for your consideration is a preliminary development plan for the corner of Jefferson and Niles, referred to as the Troegger (Sheet Metal) site. It is a 1.266 acre site, which was acquired by the Commission in December 2010. This property was put through the disposition process in 2011, concluding with the receipt of no bids on April 26, 2011. Mr. David Matthews has approached the department with development plans for this site. Similar to Mr. Matthew's site plan for the Rink site, this development would include 10 townhouse style condominiums with two potential commercial buildings. Expected starting prices will be in the $200,000 range. Units will be approximately 1,400 square feet, 2 '/2 story, all brick, 3 bedroom, 3'/2 bath with 2 car attached garages. The contract for sale is currently being drafted, but as with the Rink site, will include Commission approval for the final site plan and development specifications, a completion date of 36 months, use restrictions, etc. The selling price of the parcel is $10, with the developer agreeing not to seek tax abatements for the project (5 year tax savings on 10 units approximated at $93,000). Under this plan, the developer is asking for no further Commission financial participation. As part of this development, the plans call for 77 guest and street parking spaces along Jefferson, Washington, and behind the building. 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. What We Do Today Makes A Difference!