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04-16-04 Redevelopment Commission Minutes
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04-16-04 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting —April 16, 2004 <br />6. NEW BUSINESS <br />E. Airport Economic Development Area <br />(7) continued... <br />and processes more than one million pieces <br />of mail and data output per day. When <br />expansion of the building was necessary, <br />Crescent Michiana I requested an additional <br />50 ft. parcel of property to the north for <br />parking. The Commission was not willing <br />at that time to sell only the 50 ft. parking <br />parcel, so Crescent Michiana I acquired the <br />entire site. <br />Mr. Panzica further explained that Crescent <br />Michiana I first looked at the possibility and <br />opportunity of putting its current client on <br />the remainder of the Citigroup expanded <br />parking site. There were impediments: <br />First, an existing American Electric Power <br />easement through the site would bisect the <br />building. Second, although the easement <br />could be moved, it would add a month to the <br />construction schedule which is unacceptable <br />to the tenant. The South Bend operation has <br />become extremely important to Citigroup. It <br />is one of only three data output centers in the <br />country. It is very feasible that Citigroup <br />will have future needs requiring expansion <br />of both the structure and parking facilities. <br />Crescent Michiana III believes it is wise to <br />reserve the adjacent land and maintain as <br />much flexibility as possible to accommodate <br />the needs of Citigroup, an important <br />employer to the community. <br />Mr. Panzica further reported that, having <br />addressed these issues, Crescent <br />Michiana III has submitted a proposal on <br />IL 7 <br />
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