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South Bend Redevelopment Commission <br />Regular Meeting —April 24, 2012 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(1) Ratify Certificate of Completion for East <br />Bank South Bend Development, LLC <br />(East Bank Townhomes). <br />Mr. Relos noted that the original site plan <br />presented with the Contract for Sale of Land, <br />showed town homes which have now been <br />constructed. There is room to build two <br />more on the southern end. Mr. Matthews <br />was unsure whether those should be town <br />homes or perhaps a commercial development <br />so Phase I of the project that was approved <br />was the six town homes. Mr. Matthew has <br />met the requirements of the Contract for Sale <br />and the Certification of Completion was <br />justified. Mr. Inks signed the Certificate of <br />Completion so Mr. Matthews could secure <br />permanent financing for the project. It now <br />requires Commission ratification. <br />Ms. Jones asked if the town homes were all <br />occupied. Mr. Relos said that they were all <br />sold. He believes one has yet to be occupied. <br />Mr. Downes encouraged Commissioners who <br />had not done so to take a tour of the project; <br />it's an incredible project. <br />Mr. Varner noted there was significantly <br />more investment than what was originally <br />estimated so the property taxes will be more <br />than originally estimated. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission ratified the Certificate of <br />Completion for East Bank South Bend <br />Development, LLC (East Bank Townhomes). <br />0 <br />COMMISSION RATIFIED THE CERTIFICATE OF <br />COMPLETION FOR EAST BANK SOUTH BEND <br />DEVELOPMENT, LLC (EAST BANK <br />TOWNHOMES). <br />