6a. Amendment 2 of the East Bank Redevelopment Plan.
The East Bank Redevelopment District was created to facilitate the construction of the NFL football stadium and surrounding area in 1996. In 1999, after the completion of construction, the plan was amended to include the Main Street corridor from Interstate 65 east to East High School to ensure appropriate development of the commercial strip along Main Street. The Plan is scheduled to terminate December 31, 2025.
Since the creation of East Bank Development Authority controls on the original portion of the East Bank Redevelopment Plan are no longer needed beyond December 31. After conversations with the local council members and others, there is a strong desire to keep that portion of the Plan east of I-65 in place for one additional year while working on a transit oriented district to replace it.
6b. Cherry Oak Apartments Affordable Condo Permanent Loan.
This item authorizes permanent loan financing for the Cherry Oak Apartments Affordable Condo. The permanent financing source for this development is an Amazon Housing Equity Fund loan in the amount of $7,100,000.
6c. Napier & Sudekum Co-Developer Master Developer Agreement.
This authorizes MDHA to enter into a Master Development Agreement with the co-developer team selected for the Napier & Sudekum Transformation.
Published On: October 9, 2025
