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� • �SpUTHg�� .-' .. <br /> p ,��li'i����'//�� O <br /> '�' , /� r <br /> IZOO COUNTY-CITY BUILDING �j �\�����y i ��� PHOrre 219/235-9371 <br /> SOUTH BEND� IrrD�nrrn 46601-1830 ����E",�E% a Fax 219/235-9021 <br /> � a������ a� TDD 219/235-5567 <br /> 1865 <br /> CITY OF SOUTH BEND STEPHEN J.LUECKE, MAYOR <br /> COMMUNITY �I ECONOli�iIC DEVELOPMENT <br /> JoN R. HuNr Arnv E. KOLATA <br /> EXECUTIVE DIRECTOft DEPUTY EXECUTIVE DIRECTOR <br /> Apri19, 1997 <br /> Members of the South Bend Common Council <br /> 4th Floor County-City Building <br /> South Bend, Indiana 46601 <br /> Re: Ordinance Appropriating the Proceeds of the Proposed City of South Bend, <br /> Indiana, County Economic Development Income Tax Bonds <br /> Dear Council Members: <br /> Enclosed is an ordinance appropriating the proceeds of the proposed County Economic <br /> Development Income Tax Revenue Bonds for the Trammell Crow/Memorial project. As noted in <br /> my cover letter to the bond ordinance, the bond proceeds will be used to construct an economic <br /> development project consisting of a parking garage containing approximately 680 parking spaces <br /> and 11,000 square feet of retail space as well as a public plaza and associated public <br /> improvements. <br /> This improvements are being constructed in conjunction with the private development of over <br /> 135,000 square feet of new development. Memorial Health System, Inc. will be constructing the <br /> Memorial-Leighton Health Plex at the corner of Main and Jefferson. This building will be a <br /> minimum of four stories and will contain appro�mately 75,000 square feet. It will contain a mix <br /> of uses that include health and fitness facilities available to the public on a membership basis, <br /> community education, clinical treatment programs, orthopedic therapy, physical therapy, <br /> educational instruction and office uses. Trammell Crow MW, Inc. will be building a four story, <br /> 60,000 square foot Class A office building along Main Street,just north of the Memorial- <br /> Leighton Health Plex. Construction of the parking garage will also meet the City's obligation to <br /> Teachers Credit Union that was agreed to in 1984 when TCU purchased land from the <br /> Commission in order to construct their 60,000 square foot headquarters in downtown South <br /> Bend. Without the construction of the parking garage and the public plaza, neither of these <br /> private investments would occur. <br /> The enclosed Ordinance appropriates the proceeds of the bonds and the earnings thereon for such <br /> purpose. I am requesting that it have first reading on Monday, April 14, 1997 with final reading <br /> and adoption on Monday, Apri128, 1997. <br /> REDEVELOPMENT BUSINESS ASSISTANCE FINANCIAL SL PROGRAM BUREAU OF HOUSING PLANNING Si NEIGHSORHOOD <br /> ANN E. KOLATA Si DEVELOPMEhT MANAGEMENT KATEiRYN BAUMGARTNER DEVELOPMENT <br /> 219/235-9371 DONALD E. INKS ELIZABETH LEONARD SZL ECLIPSE PLACE PAMELA C.MEYER <br /> 219/235-9335 219/235-9335 219/235-9475 219/235-9660 <br /> Fnx:219/235-9469 Fax:219/235-9697 <br />