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South Bend Redevelopment Commission <br />Regular Meeting -April 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. Receipt of Bids <br />() continued... <br />easements for widening and streetscape <br />improvements to Fellows and Ireland than <br />there is property being purchased from the <br />city. The city wants right-of way along land <br />adjacent to the development parcel as well, <br />which the developer has bought for future <br />development. <br />The entire parcel has been rezoned to 0- <br />Office. Phase I would start with the <br />construction of a 3200-3600 sft office <br />building overlooking Erskine Golf Course. <br />Over the next two to three years, Phases II <br />and III would expand the development. <br />Mr. Tyler Glynn, Edward Jones Investments, <br />currently has an office on Ireland Road. He <br />acquired the additional property next to 505 <br />E. Ireland. ROI Holding will own half the <br />property with him and ROI will do the <br />construction. Dan Brekke of ROI will be the <br />developer. Mr. Brekke has done numerous <br />developments in Elkhart; this is his first <br />development in South Bend. Edward Jones <br />Investments will be the primary tenant in the <br />building; there will be one or two others. No <br />lease has been signed, but State Farm who <br />shares Edward Jones' current building is <br />expected to take most of the remaining space <br />in Phase I. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission acknowledged receipt of the <br />non-confirming bid from ROI Holdings for <br />505 E. Ireland Rd. and referred the proposal <br />COMMISSION ACKNOWLEDGED RECEIPT OF THE <br />NON-CONFIRMING BID FROM ROI HOLDINGS FOR <br />505 E. IRELAND RD. AND REFERRED THE BID TO <br />STAFF FOR REVIEW AND ANALYSIS <br />9 <br />