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South Bend Redevelopment Commission <br />Regular Meeting -December 15, 2006 <br />6. NEW BUSINESS (CONT.) <br />D. South Bend Central Development Area <br />(1) Staff report on disposition of property in <br />the South Bend Central Development <br />Area. (former Senor Kelly Lot) <br />Mr. Inks noted that this agenda item pertains <br />to the 101 N. Michigan property and the <br />adjacent parking lot between 101 N. <br />Michigan and the former Senor Kelly's <br />restaurant. <br />Ms. Laurent noted that on June 20, 2006 the <br />Redevelopment Commission approved a <br />Letter of Intent from Mike Wargo and Brad <br />Toothaker, the principals of Michigan Street <br />LLC, which outlined a proposed <br />development partnership for the 101 N. <br />Michigan St. building, the former American <br />Bank & Trust Co., and an expansion upon <br />property currently owned by the Commission <br />to the north. <br />One of South Bend's historic treasures,101 <br />N. Michigan is listed as the All American <br />Bank Building on the National Register of <br />Historic Places. Colonel Lathrop Taylor <br />located an Indian fur trading post there in <br />1381 and operated the town's first post office <br />there. The existing building was constructed <br />in the 1920s and has been recognized as a <br />superior example of period architecture. <br />As the Redevelopment Commission is aware, <br />the upper floors of the building have long <br />been uninhabitable due to non compliance <br />with current building codes and ADA which <br />require an elevator and stairwell, as well as <br />additional interior investment. The building <br />has been underutilized for many years as a <br />4 <br />