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South Bend Redevelopment Commission <br />Regular Meeting —April 19, 2002 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(1) continued... <br />Mr. Grabill responded that there has <br />been a fair amount of interest in the <br />residential conversions; however, a <br />current concern is parking restrictions. <br />There are presently sixty parking spaces <br />available and each residential unit will <br />require two, which would then leave a <br />deficit for restaurant use. An additional <br />concern is the lack of pedestrian traffic <br />flow needed to establish a base of logical <br />clients for the white table cloth <br />restaurant, which is expected to open <br />within six months of closing. Mr. <br />Grabill explained that the boutique/hotel <br />operation will be a natural feeder to the <br />restaurant; therefore, it will be important <br />for the long term success of the project, <br />and ultimately both operations will <br />compliment each other. Because of <br />these concerns, LaSalle Property is first <br />seeking to secure a developer for the <br />boutique/hotel operation, which is <br />expected to begin construction within <br />one year. The final component of the <br />project would be the residential <br />apartments. <br />Upon a motion by Ms. Roemer, <br />seconded by Ms. Jones and unanimously <br />carried, the Commission approved <br />Resolution No. 1886 approving an <br />application for real property tax <br />deduction for property located at <br />237 North Michigan Street in the South <br />Bend Central Development Area. <br />IL (LaSalle Property Management Co., <br />LLC.) <br />COMMISSION APPROVED RESOLUTION NO. 1886 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 237 NORTH MICHIGAN STREET IN <br />THE SOUTH BEND CENTRAL DEVELOPMENT <br />AREA. (LASALLE PROPERTY MANAGEMENT CO., <br />LLC.) <br />