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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 />what the City does. It just isn't going to <br />be the catalytic type of project that we <br />want it to be. The same is true here on <br />the Rink site. We could have sold the <br />~Uharf site and made a nice profit on it <br />and walked away. We didn't do that. <br />~Ve don't want to do that. And we <br />wouldn't do that here, either. But, in the <br />long run, if the City has no interest in <br />participating in a master planning effort, <br />that's what would happen. <br />Mr. King: John, this question wasn't <br />given to you in advance, but maybe you <br />can answer it anyway. If I understand <br />the area you' 11 develop as retail/office, <br />there's a cell phone tower there that <br />would have to be moved. Are you <br />expecting you would do that, or the City? <br />Answer: We would hope it would be <br />moved. We would expect the City to <br />buy it and do whatever necessary to <br />move it and then sell the land to <br />Holladay at the same $5/sft price w'd <br />pay for any other additional land. <br />Advance Question 9b) Why do you feel the <br />return to the public warrants the amount of <br />public funds you are requesting? (See <br />attached table.) <br />Answer: Holladay Properties feels that this <br />is a major project that would create jobs and <br />downtown residences. This is the type of <br />project that could be a catalyst for downtown <br />27 <br />