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South Bend Redevelopment Commission <br />Regular Meeting —May 31, 2012 <br />6. NEW BUSINESS (CONT.) <br />C. West Washington - Chapin Development Area <br />(1) continued... <br />Mr. Relos noted that on October 25, 2011, <br />the Commission entered into an MOU with <br />South Bend Heritage Foundation, for the <br />rehabilitation of the historic Rushton <br />Building, at the northwest corner of W. <br />Washington and William St. Because the <br />Rushton was built with common kitchen and <br />dining areas, and has stood vacant since <br />2002, extensive remodeling of the building is <br />required. The building will be converted into <br />a 23 unit, low to moderate income senior <br />housing complex. <br />Total development costs are estimated to be <br />$3.4 million. Funding for the project will <br />come from $2.8 million in Low Income <br />Housing Tax Credits and $277,700 of <br />Historic Tax Credits. To fully fund the <br />project, $322,300 in West Washington <br />Chapin Development Area TIF was <br />approved. To facilitate this work, the <br />Commission approved Access and <br />Development Agreements on March 27, <br />2012. <br />Commission improvements will allow off - <br />street parking for residents and visitors, <br />necessary site utility upgrades, sidewalks and <br />curbs, landscaping and lighting, exterior tuck <br />pointing and cleaning, and new thermo <br />windows. Staff requests approval of <br />Resolution No. 3035. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved Resolution No. 3035 <br />approving and authorizing the execution of <br />21 <br />COMMISSION APPROVED RESOLUTION NO. 3035 <br />APPROVING AND AUTHORIZING THE EXECUTION <br />OF AN ADDENDUM TO THE MASTER AGENCY <br />AGREEMENT WITH THE BOARD OF PUBLIC <br />WORKS (RUSHTON REHAB PROJECT). <br />