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South Bend Redevelopment Commission <br />Regular Meeting — September 16, 2005 <br />6. NEW BUSINESS (CONT.) <br />D. Airport Economic Development Area <br />(1) continued... <br />Mr. Schalliol noted that on June 4, 2004 the <br />Commission approved a proposal from <br />Grubb & Ellis /Cressy & Everett (GE /CE) for <br />the sale of Lots 4 -6 in the U.S. 31 Industrial <br />Park. After much discussion with staff <br />during negotiations on the Contract for Sale <br />of Land, the scope of the project materially <br />changed. GE /CE has a revised proposal they <br />would like to present to the Commission at <br />this time. <br />Christian Davey introduced himself and gave <br />the address of his employer, Grubb & <br />Ellis /Cressy & Everett as 3930 Edison Lakes <br />Parkway, Mishawaka. Grubb & Ellis /Cressy <br />& Everett have been working as developer <br />for the site under the name of PCN Properties <br />seeking to construct a development on Lots <br />4 -6 at Brick & Ameritech Dr. Phase I of the <br />project would build a 12,000 sq. ft. building <br />starting the end of March 2006 with <br />completion in late August. Phase II could <br />construct a 8- 12,000 sq. ft building targeted <br />to open late fall 2007. <br />The initial proposal included development of <br />Lot 4 which required fill to be brought in as <br />part of site preparation. Because the project <br />contemplated retail use, and retail <br />development requires visibility; the <br />developer desires to construct this <br />development a foot above the elevation of <br />Carbonmill and Ameritech. That elevation <br />would require bringing in more than 20,000 <br />cubic yards of fill. GE /CE proposes a <br />purchase price of $77,000 per acre for the <br />L9 <br />