Supporting the commitment of Public Sector Resources to the continued deveopment and revitalization of South Bend's Central Business District

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CITY of SOUTH BEND ' PETER J. NEMETH, Mayor Fs -UYws COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 DEPARTMENT OF HUMAN RESOURCES AND ECONOMIC DEVELOPMENT COMMUNITY DEVELOPMENT PROGRAM Carl Ellison Director .Jon R. Hunt M E M O R A N D U M Deputy Director TO: MEMBERS OF THE COMMON C UNCIL FROM: JON R. HUNT W SUBJECT: CENTURY MALL PROJECT DATE: SEPTEMBER 19, 1977 219/284 -9335 Per Council Member Adams's request, I have prepared a list of the cost associated with certain requirements established by HUD and outlined in the August 29, 1977, letter from Mr. James E. Armstrong, Area Director of HUD, to Mayor Nemeth. (Attachment A) In addition, I have enclosed three (3) resolutions (Attachment B. C. and D) which contain certain assurances concerning the requirements established by the HUD Area Office which must be fulfilled prior to receiving the $2,126,000 Urgent Needs Grant for the Century Mall Project. These resolutions will be considered at the September 26, 1977 Council meeting. The following costs are associated with the HUD requests: Item 3 - To provide for construction cost for parking and transit facilities if UMTA and EDA grants are not available: $5,000,000.00 The above cost is based on previous cost estimates. However, the firm of Barton - Aschman is presently updating their parking study to establish a series of alternative parking plans, including cost estimates, for the Century Mall Project. Item 4(a) - To financially close -out Project R -66: $636,340.00 This amount is based on the reduction of the principal balance of $4,150,000 through proceeds from land sales, grant money from Project R -66, 1977 CDBG funds, etc. Please refer to Attachment E. the financial plan for R -66 previously submitted for your review.