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1200 CouN~rr-Crn~ Bui~o~Nc <br />227 W JEFFERSON BOULEVi1Rll <br />SovrH BEND, INDIANA 4GG01-1830 <br />PHONE574/235-9371 <br />Fax 574/235-9021 <br />TDD 574/ 235-55G7 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, M.+.YOR <br />COMMUNITY HL ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />December 8, 2010 <br />South Bend Common Council <br />Fourth Floor Council Chambers <br />400 County-City Building <br />South Bend, IN 46601 <br />Dear Council Member: <br />The attached Ordinance for your consideration would allow for the amendment of the South Bend Central <br />Development Area Development Plan to add two parcels to the Acquisition List. These two parcels <br />represent the parking garage in the 1s1 Source/Marriott building. Under a Memorandum of Understanding <br />previously supplied to the Common Council, Redevelopment's acquisition of the parking garage will result <br />in retaining 1 SI Source Corporation and an upper upscale hotel in the downtown. These two businesses <br />employ almost 700 people in South Bend. In addition, a total of $14 million (including the $6.5 million <br />garage purchase price) will be invested in the bank, hotel and atrium. <br />Please call me at 235-9339 if you have any questions. I will attend your December 13th meeting and be <br />available to answer questions-then as well. Dick Nussbaum, an attorney representing the City, will make <br />the presentation of this bill. <br />Sin re y, <br />ald E. Inks <br />Director <br />Economic Development <br />cc: Jeff Gibney <br />U r'~ G Lv~~ <br />CITY CI~rG, S0, ~ri!D, h1. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HL PROGRAM <br />PAl~1ELA C. METER DONALD E. INKS I1'IANAGEML•NT <br />574!235-9GG0 574!235-9371 LUZABETH LE6NARD <br />FAx: 5741235-9G97 574f235-9371 <br />