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South Bend Redevelopment Commission <br />Regular Meeting –December 3, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />. South Bend Central Development Area <br /> C <br /> <br />(4) continued… <br /> <br />such as a restaurant, a certain level of room <br />quality, a nice lobby, fitness center, etc. An <br />upscale hotel is comparable to the Inn at <br />Saint Mary’s or Hilton Garden Inn. Certain <br />flagship brands qualify for that rating. <br /> <br />Mr. Downes asked about the performance <br />thresholds. Mr. Nussbaum responded that <br />the upper upscale level is the performance <br />threshold for Host. <br /> <br />Mr. Alford asked if a Marriott representative <br />could speak to the upscale/upper upscale <br />definitions. Mr. Nussbaum responded that <br />Marriott manages this hotel for Host under a <br />management agreement, also up for renewal <br />at the end of 2010. The city expects that <br />because of these improvements the Marriott <br />will want to remain as manager of the hotel. <br />But it should not be a surprise if Hilton <br />becomes the new manager. It would have to <br />be a certain caliber of manager. <br /> <br />Mr. Varner asked, again, if $6.5M is the <br />city’s total liability for this project. Mr. Inks <br />noted that there is another item on the agenda <br />st <br />related to the 1 Source project where we are <br />buying some of their property. That is not a <br />part of this transaction, but is related. <br /> <br />Mr. Varner asked what the property taxes are <br />on the property currently. Mr. Inks thought <br />taxes are between $600,000 and $700,000 <br />total per year. <br /> <br /> <br /> 17 <br /> <br />