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02-27-12 Community & Economic Development Committee
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02-27-12 Community & Economic Development Committee
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9/12/2012 10:40:26 AM
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3/16/2012 1:11:25 PM
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City Council - City Clerk
City Council - Document Type
Committee Mtg Minutes
City Counci - Date
2/27/2012
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COMMUNITY & ECONOMIC DEVELOPMENT COMMITTEE <br />FEBRUARY 27, 2012 <br />Committee Members Present: <br />Henry Davis, Karen White, Gavin Ferlic <br />Citizen Members: <br />Zachary Raymond. Pat Crowley <br />Other Council Present: <br />Tim Scott, Valerie Schey, David Varner, Oliver Davis <br />Others Present: <br />Don Inks, Mayor Pete Buttigieg, Mike Schmuhl, Sherri Miller - Story; Kathleen Cekanski- <br />Farrand; Kevin Allen <br />Agenda: Bill No. 8 1 -11 Chase Tower <br />Bill No. 8 1 -11 — Appropriation for Garage Interest in the Chase Tower <br />Chairperson Henry Davis, Jr., began his committees hearing with three of four <br />Committee Member's present as well as both newly appointed citizen members Pat <br />Crowley and Zachary Raymond. <br />Chairperson Henry Davis acknowledged receipt of a request from the Mayor that this bill <br />be withdrawn. Nonetheless, Henry proceeded to recount some personal involvement <br />aimed at committing over 5 million dollars of public money combined with close to 14 <br />million dollars pledged by a private investor to acquire and restore the Chase Tower <br />Bldg. in downtown South Bend. Henry dates his efforts to make this happen to last <br />September. He said while the building is currently 74% occupied it is in dire need of <br />rehabilitation citing serious problems with both the elevators and parking garage. He <br />noted while the receiver of the property had originally set the value of the building at 6.5 <br />million dollars, a judge has se the value at 8.5 million, given the fact that he saw an <br />investor ready, willing, and able to acquire the building if the city would commit 5 <br />million toward repairs, why was he rejected. This is the question he asked the Mayor. <br />
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