Jobs, Apartment Proposals Clear Key StepsPosted: Updated:
Three projects in South Bend are moving forward. The South Bend Tribune reports the city's redevelopment commission has approved proposals including additional improvements for a mixed-use development and equipment lease agreements with two employers. Colfax Hill Partners is working to build a $3 million, four-story apartment with retail space and needed to seek additional funding from the city for infrastructure improvements. The project is expected to be complete next year.
Nello Corp. is planning to consolidate many of its out-of-state operations to its South Bend headquarters. Part of its $60 million overall plan calls for the city to purchase around $9 million of equipment that will be leased to the company for $10 over 10 years.
The city has also reach an equipment purchase and lease agreement with Connecticut-based Noble Americas, which is upgrading the former New Energy Ethanol plant. Noble Americas will lease $2 million of corn oil extraction equipment for five years at $100,000 per year.
Source: South Bend Tribune