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5. OLDIBUSINESS (Cont'd developers here does not mean that the market is three (3) times what we are talking about. It is only once, and it may be one - quarter, but it certainly is not three times because there are three investors. If these investors would want to build on the north block that would be great, but the community has to recognize that just because there are three potential developers, that there is not three times the market. Mrs. Allen added she has also been told that we have all the office space that we can use, and now we are dedicating Block 6 for practi- cally all office space. We still need motel rooms now that the La- Salle Hotel is gone. We need decent restaurants over here and some place else, and if you are going to give it all to office space, you are not going to help downtown, because people in those faci- lities are going to need some place to go afterwards. Mr. Flock, representing SSPF, said, "You must also realize that we are very interested in South Bend. It had a priority in our investi- gations of some 20 to 25 different areas of where we can place our expertise. Our expertise, like anyone else's, has limitations to it. Mow I think it would be wonderful if there is another viable piece, but I have to support the gentleman in regard to what he said that you can only have so many similar type things going in one community. We have to now, drop to our second or third alternative, or if there is a way that we can work in collaboration with these other developers as such, we would be more than willing to investigate that, if it is to our mutual benefit as well as to the community's, because I think that Parcel 6 has enough on it to be beneficial to the right type of collaboration or team concept as such, but if it doesn't seem to be a viable thing, we have other communities, including our own, including others in surrounding areas of the midwest, as well as through the country that needs the kind of team that we are offering and you have elected to pick one to develop your parcel here." Mr. Gordon Medlock, representative of International Constructors, requested to comment on the whole situation and on Mrs. Allen's ob- servation. "I am very pleased to see that you are reaching a point of decision, for a while I thought you may never do it. I am also pleased to see that the total Block 6 has a prospect of being de- veloped. We do have an option from the St. Joseph River Bend Develop- ment group for an elderly high -rise should we be the successful bidder on that. No award has been made. We have not given up hope that we can negotiate on that for the City of South Bend, and we, International Constructors, certainly hope that we will be a part of some develop- ment on Block 6. Our primary thrust and our greatest interest was in the immediate and urgent interest expressed by Midway Motor Lodge and the Hoffman House Restaurant, and I met with them as recently as last evening in Grand Rapids, and they are receptive to looking at alter- native sites, and we had no idea you were this close in your negotia- tions. We talked about alternative sites in the downtown area and they are prepared to be open minded to take a look at those sites. I think that they will be hard to convince as to the comparable value of the location since the site they originally picked out- -Block 6 -- - 11 -