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South Bend Redevelopment Commission <br />Regular Meeting -March 3, 2006 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />() continued... <br />4. Description of proposed development - <br />private investment <br />Advance Question 4) It appears that your <br />private investment for development on the <br />Rink Site per se would be $30,000 for the <br />land and approximately $10,000,000 for the <br />75,000 square foot corporate office building. <br />Is this correct? <br />Answer: As stated in the answer to question <br />one, Holladay Properties is offering to <br />purchase the land for three hundred thousand <br />dollars ($300,000), and thirty thousand <br />dollars ($30,000) was an error on the <br />application. However, the ten million dollar <br />($10,000,000} investment in the corporate <br />office building is an estimate based on the <br />building being 75,000 square feet. The range <br />would likely be between $8,000,000 and <br />$15,000,000. <br />5. Description of proposed development - <br />jobs to be created or retained as the result of <br />improvements on the Site <br />Advance Question 5) What is your estimate <br />of new jobs that would be created and <br />existing jobs that would be retained as the <br />result of your proposed development on the <br />Rink Site? Would "existing jobs that would <br />be retained" be lost if your development does <br />not proceed? <br />17 <br />