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South Bend Redevelopment Conin -i i ssi on <br />eschedLiled Regular Meeting ----May 8, 20 <br />6. NEW BUSINESS SS '0 8 <br />B. Tax Abatements <br />(1) continued... <br />oted that whether the abatement is granted or <br />not affects the square footage rental amount <br />under the lease. Baler & Daniels anticipates <br />during the June 200 <br />constructi.on period there will be 50-60 <br />construction jobs, involvino, approximately <br />ten local subcontractors. It's a very <br />significant constnicti on protect. The project <br />is ve -' si ifie -ant to Baker & Daniels <br />becaLIsc Wit]IOUt it fliev were wonderiny if <br />they'd be able to meet their 01TA.Ce p Ic e <br />needs in downtown South Bend. They are <br />happy to be involved in the overall <br />renovation project and to be able to keep <br />their offices in downtown South Bend. <br />Mr. Mathia e plalned the reason the one <br />building permit was p klled and the project <br />completed is that C'B Richard Ellis was <br />occupying the 9`11 floor space where Stiffle, <br />Nicolaus and Compaiiy was to relocate to <br />male room for Bakcr & Daniels. CB <br />.diehard Ellis had to move quickly to make <br />room for Stiffle, Nicolaus and Company. <br />1. Wade noted that the abatement affects <br />the entire bulldinor. The landlord intends to <br />bring the entire building up to Class A office <br />while maintaining competitive pricing to <br />reduce the risk of Current tenants relocating. <br />The abatement would help keep the lease rate <br />competitive for the remaining tenants. <br />Mr. Peczkowski asked if it is the business of <br />ove meat to make the landlord <br />competitive. GIs. Wade acknowledged that it <br />