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South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> F. West Washington-Chapin Development Area <br /> (2) continued... <br /> Mr. Varner asked whether it's customary to <br /> include a reserve that is returned <br /> immediately. Mr. Relos stated that it's not <br /> something ordinarily done. The building <br /> needs immediate repairs. Mr. Zeiger stated <br /> that Indiana Landmarks intends to apply for a <br /> grant that requires a match. This was a way <br /> to get that match. <br /> Mr. Downes asked if the deal can go through <br /> without this happening. Mr. Relos <br /> mentioned there is an escrow agreement <br /> being drawn between the property owner and <br /> Indiana Landmarks. <br /> Ms. Nash input that legal had the opportunity <br /> to review and discuss this. Her suggestion <br /> was that the Commission approve it subject <br /> to final legal review and compliance with <br /> state law. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.2948 <br /> Mr. Varner and unanimously carried, the APPROVING AN ACCEPTING A COUNTER OFFER <br /> Commission approved Resolution No. 2948 FOR THE ACQUISITION OF PROPERTY IN THE <br /> WEST WASHINGTON-CHAPIN DEVELOPMENT <br /> approving an accepting a counter offer for AREA,SUBJECT TO LEGAL REVIEW AND <br /> the acquisition of property in the West COMPLIANCE WITH STATE LAW(803 W. <br /> Washington-Chapin Development Area, WASHINGTON) <br /> subject to legal review and compliance with <br /> state law (803 W. Washington). <br /> (3) Memorandum of Understanding with <br /> South Bend Heritage Foundation for <br /> development of the Rushton Building. <br /> Mr. Relos noted that the Ruston Building at <br /> 501 W. Washington was built in 1906 by the <br /> brothers John and Edward Rush, respectively <br /> 25 <br />