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South Bend Redevelopment Commission <br />Regular Meeting —June 14, 2011 <br />project. Mr. Matthews answered that his <br />Contract for Sale of Land stipulates that he <br />construct at least three units beginning in the <br />fall. Then he must have the remaining seven <br />of units built within three years. Even if <br />there is no market, Mr. Matthews is still <br />obligated to build ten townhomes and to get <br />them sold. <br />Mr. Alford made a motion to accept the <br />development proposal from David Matthews <br />for the Northeast corner Jefferson & Niles. <br />Ms. King seconded the motion. The motion <br />passed on a vote of three in favor. Mr. <br />Varner was opposed. <br />(2) Commercial Purchase Agreement with <br />Mavcon Properties of Kalamazoo, <br />Michigan (LaSalle Hotel). <br />Mr. Relos noted that staff has over the years <br />worked with many interested parties, from <br />various parts of the country, for the <br />rehabilitation of the Hotel La Salle (Hotel). <br />The Hotel has sat empty for approximately <br />10 years, and has been maintained by the <br />Commission in the hopes that one day the <br />right group would step forward, that has both <br />the ability and capacity to return the Hotel to <br />a productive use and asset to the downtown. <br />We feel that developer has emerged. <br />Mavcon Properties, of Kalamazoo, Michigan, <br />would like to enter into a Purchase <br />Agreement with the Commission to acquire <br />the Hotel. Mavcon has experience in <br />redeveloping urban properties, with its latest <br />project being the Metropolitan Center in <br />downtown Kalamazoo, an $11.3 million <br />historic rehab of four connected commercial <br />buildings that were constructed in the late <br />1800's. <br />24 <br />COMMISSION ACCEPTED THE DEVELOPMENT <br />PROPOSAL FROM DAVID MATTHEWS FOR THE <br />NORTHEAST CORNER OF JEFFERSON & NILES AND <br />DIRECTED STAFF TO PREPARE THE CONTRACT <br />FOR SALE OF LAND <br />