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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -April 5, 2007 <br />6. NEW BUSINESS <br />B. South Bend Central Development Area <br />continue ... <br />and landlord's investment of $2,500,000 as <br />well as that of key new and existing tenants, <br />including Baker & Daniels law firm, <br />KeyBank, and CB Richard Ellis. <br />We are particularly pleased to work with <br />Baker & Daniels to identify appropriate <br />space for their relocation and expansion in <br />the heart of South Bend. Their firm plans to <br />add new associates every year as a result of <br />this move. As a part of this MOU we will <br />commit to identifying parking availability in <br />the Wayne Street Garage. We do have other <br />commitments in this garage, but staff has <br />worked with Ampco to verify that we can <br />make this work logistically. <br />The MOU also proposes that in support of <br />the project the Redevelopment Commission <br />fund and direct certain improvements to the <br />plaza space immediately west of the building, <br />along Michigan Street. To enable us to direct <br />TIF funds toward the improvements, the <br />property must first be publicly owned. The <br />property propo sed to be acquired is 202-204- <br />206 South Michigan Street, commonly <br />known as KeyBank Plaza. This is a highly <br />desirable plot of land approximately 7,200 sft <br />in size that has long functioned as a public <br />space, though it has been privately owned. <br />The plaza is in need of some aesthetic <br />improvements that would soften the space, <br />green it up and make it more accessible for <br />the public, while setting off the architecture <br />around it. City Engineering and Economic <br />17 <br />