Approving the intention of the Mayor, acting through the Department of Redevelopment, to enter into an agreement with the American City Corporation

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OFFICE OF THE MAYOR CITY of SOUTH BEND PETER J. NEMETH, Mayor COUNTY -CITY BUILDING SOUTH BEND. INDIANA 46601 M E M O R A N D U M TO: Members of the Common Counci FROM: Mayor Peter J. Nemeth SUBJECT: Century Mall Market Study DATE: November 1, 1978 AREA 219 284 - 9261 The purpose of the attached resolution is to secure your concurrence with my intention of entering into an agreement with the American City Corporation, a subsidiary of the James Rouse Company, to perform a market Study in connection with the Century Mall Project. Documents to be prepared and submitted by the American City Corporation to the principals during the course of work shall include the following: 1. Market Analysis Report 2. Retail Center Concept with Development Objectives 3. Preliminary Development Arithmetic with Estimates of Public and Private Investments Required The report to be prepared within a four to six month period will cost $75,000 with an additional reimbursable fee not to exceed 10% ($7,500) of the basic fee. The St. Joseph Bank & Trust Company has agreed to fund one -half the cost of the project. Depending upon the results of the study, it will be decided by the city, St. Joseph Bank & Trust Company and The Rouse Company as to whether it is desirable and feasible to proceed with further services by The Rouse Company and whether The Rouse Company might be interested in the actual development process. I believe this study is essential to further progress downtown. Thus, your support of this resolution is asked. jmr