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South Bend Redevelopment Commission <br />Regular Meeting -May 19, 2006 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />continue ... <br />Upon a motion by Mr. Hojnacki, seconded COMMISSION AUTHORIZED DOWNTOWN SOUTH <br />by Mr. Blake and unanimously carried, the BEND TO USE COMMISSION OWNED PROPERTY IN <br />Commission authorized Downtown South THE DowNTOwN AND EAST BANK oN <br />SEPTEMBER ~, 2006 FOR ARTBEAT <br />Bend to use Commission owned property in <br />the downtown and East Bank on <br />September 7, 2006 for ArtBeat. <br />(3) Staff report on disposition of property in <br />the South Bend Central Development <br />Area. (Rink Riverside Printing site) <br />Ms. Laurent noted that the Commission has <br />offered for disposition the former Rink <br />Riverside Printing site on the East Bank. At <br />previous Commission meetings the two <br />proposals have been discussed and <br />presentations made by the respective <br />developers, Eco-Urban Collaborative and <br />Holladay Properties. Since then staff has <br />communicated specific reservations that the <br />Commission has raised regarding the <br />economic viability of both of these projects. <br />Both proposals present exciting development <br />concepts for the East Bank, but the devil is in <br />the details, so to speak, and after a careful <br />review of both our own fiscal restraints and <br />the financial projections presented by each <br />proposal, neither project seems to work at <br />this time. Staff recommends returning the <br />deposits we've received for each proposal <br />($30,000 from Holladay Properties and $1 <br />from Eco-Urban Collaborative) with the <br />consideration that staff is very much <br />encouraged by the level of public interest in <br />this important riverfront site. Staff will <br />18 <br />