Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—July 12, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> D. South Bend Central Development Area <br /> (4) Construction, Easement, Restriction and <br /> Operating Agreement (South Bend <br /> Marriott) Estoppel and Release (Walkway <br /> Agreement). <br /> The second agreement has to do with the <br /> walkway from the hotel over to the Century <br /> Center. The situation is similar where the <br /> two entities maintain their own buildings. <br /> Century Center maintains the walkway and <br /> gets reimbursed by the hotel. <br /> Based upon extensive investigation, there <br /> aren't any issues with regard to repairs. The <br /> city is not assuming any responsibilities. <br /> There aren't any issues other than what's <br /> being disclosed in the estoppel agreements. <br /> There is a time crunch. The closing should <br /> take place before the end of July and these <br /> documents will help facilitate that closing. <br /> Mr. Inks questioned releasing information to <br /> which Mr. Nussbaum responded that the <br /> MOU contemplated that so long as the new <br /> buyer (Jenna Hotel Investments) agreed to <br /> assume all of the responsibilities of the <br /> MOU, Host Hotels would then be released <br /> from that responsibility. After evaluating <br /> Jenna, its finances and projects around the <br /> country, he believes this is a better situation <br /> for the city. <br /> Ms. King asked if signing this agreement in <br /> any way precludes Jenna's responsibility <br /> going forward. Mr. Nussbaum's response <br /> was no. <br /> Mr. Downes asked if a representative from <br /> 18 <br />