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Redevelopment Commission on Meeting <br />Rescheduled Regular Meeting — October 22, 2004 <br />6. NEW BUSINESS WONT.) <br />E. Sample -Ewing Development Area <br />(1) continued... <br />The site plan contains adequate parking and <br />loading accommodations for a structure of <br />this size, with patron and employee parking <br />areas separated on the east and west sides of <br />the building, respectively. The estimated cost <br />of the building is $3,000,000, or almost <br />$86 /square foot. <br />The developer will seek to reach agreements <br />with tenants over the next year, and proposes <br />to begin construction in 2006. This timing <br />will allow the company to focus on <br />relocating their current tenant on the South <br />Bend Avenue site (Sears) to a new facility to <br />be constructed in 2005. <br />This development will contribute <br />significantly to the character and appeal of <br />the Oliver Industrial Park. The development <br />would meet the desired goals laid forth in the <br />Sample -Ewing Development Plan and the <br />Studebaker /Oliver Plow Works <br />Redevelopment Strategy. The focus given to <br />the aesthetic appearance of the building by <br />the developer and architect is tremendous, <br />and staff feels that this development will add <br />a second "anchor" development to the <br />industrial park, following the example of <br />Rose Brick & Materials, Inc. <br />Staff recommends accepting the proposal <br />from Macri Development, Inc. for Lot #8 in <br />the Oliver Industrial Park. Staff will bring <br />back a Contract for Sale of Land that will <br />involve Macri Development's property on <br />South Bend Avenue and Lot #8. <br />15 <br />