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South Bend Redevelopment Commission <br />Regular Meeting —April 4, 2003 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(3 & 4) continued... <br />Mr. Mathia added that the minimum bid <br />price for the site was $263,000 and noted <br />that the proposal was submitted without a <br />bid price. <br />Ms. Greene reminded the Commission that <br />accepting a bid does not require the making <br />of an award. Ms. Greene noted that the <br />proposal was extensive and the Commission <br />may wish to receive more information today <br />and review it, but defer any decision for a <br />later time. <br />Mr. Mathia then introduced Mr. James <br />Browning of Browning Investments. <br />Mr. Browning advised that Browning <br />Investments is located in Indianapolis and <br />has been developing real estate in that area <br />since the early 1980s. They have done all <br />sizes of projects in downtown Indianapolis <br />and on the north side of Indianapolis, <br />primarily Class A development. <br />Mr. Browning explained the project they <br />propose for the Main - Jefferson site in <br />downtown South Bend. The project would <br />be a $15,000,000, 100,000 sft office <br />building on six floors with an 18,000 sft <br />footprint. He displayed a rendering showing <br />a corner lobby, but said they are also <br />considering a center entrance. The site <br />would contain nine parking spaces at ground <br />level and an underground parking garage. <br />The building would contain two elevators <br />IL 11 <br />