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,:SOUTH .. <br /> 704 ,k41;ilL'or:ra %, Department of <br /> it ' <br /> ; ?. Community Investment <br /> Memorandum <br /> Thursday,January 17, 2013 <br /> TO: South Bend Redevelopment Commission <br /> FROM: Bill Schalliol <br /> SUBJECT: Memorandum of derstanding - Lot 14 US 31 Industrial Park <br /> In December 2012, the Redevelopment Commission was presented with a request by Draga <br /> Investments, owner of 6139 Parkland Drive, to acquire from Draga a common area retention pond <br /> that services the northern end of the US 31 Industrial Park. The Redevelopment Commission was <br /> the original developer of this industrial park and the retention area was platted into Lot #14 as that <br /> was common development law at the time. The retention area serves the adjacent developed lots <br /> but also serves as a drainage location for the adjacent roadways. The pond has maintained and <br /> served by the City since it was constructed. The Commission hired Danch Harner and Associates to <br /> prepare a Minor Subdivision to split off from the buildable portion of the lot the existing retention <br /> basin. The proposed Outlot that will contain the retention basin will be owned by the City of South <br /> Bend. City Ordinances require the Minor Subdivision process for splitting the property as described <br /> above. <br /> In order to facilitate the pending land sale between Draga Investments and PBS Properties, the two <br /> parties have asked that we memorialize this project in a Memorandum of Understanding. The <br /> purpose of the agreement is to allow both parties to have a comfort level to allow them to close a <br /> transaction before the completion of the subdivision process. The MOU contains the timeline for the <br /> project and lays out the commitments by each party. There are no terms or conditions contained <br /> within this agreement that are beyond the action the Commission has previously approved. <br /> Staff requests Commission approval of this Memorandum of Understanding between Draga <br /> Investments, LLC, PBS Properties, LLC, and the Commission. <br /> 227 W.JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021 I SOUTHBENDIN.GOV <br />