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South Bend :Redevelopment Commission <br />Regular Meeting w.etobe# 1, 2007 <br />6. NEW BUSINESS (CONY.) <br />B. South Bend Central Development Area <br />(1) continued... <br />use of the site. We understand the family is <br />interested in liquidating the assets of the <br />business, and is pursuing the sale of the <br />inventory separately and s1multancously with <br />the real property. <br />Upon acquisition, it would be our intention to <br />engage a professlon.a.l. design 4 -tad engineering <br />f n-n with e pericnce in stabilizing building <br />facades to study the reuse of the street face of <br />the block. There is consensus that the scale <br />and vestiges of character of the buildings <br />contribute valuably to the historic urban core <br />of South. Bend. City Plan established policy <br />that demolition is a last resort and staff tales <br />that very seriously. The market et potential for <br />redevelopment of the site is Compelling but <br />cannot be understood in a vacuum. We will <br />be incorporating this i i ortant site anchoring <br />the southem en' d of downtown as we tale a <br />comprehensive ehensive cool at planning for <br />connectivity and rebirth of the area around <br />Coveies i stadium, the Main Library <br />expansion and redevclopnlent of the fornncr <br />Studebaker er Museum site. <br />Mr. Peclosli noted that he has already <br />presented a pry vate sector buyer. Mr. Diaz is <br />a arc of the appraised value the Commission <br />has set as the purchase offer. He has asked <br />that he be given two weeks to pursue a <br />purchase. Mr. Peczko ski doesn't see the <br />need for the Commission to rush to send the <br />purchase offer before the private sector has <br />been given a chance to work. And Mr. Diaz <br />has already invested in the area. He would <br />1 <br />