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RM 11-07-75
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RM 11-07-75
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I. <br />R <br />al Estate Research <br />Corporation <br />72 WEST ADAMS STREET • CHICAGO 60603 PHONE: 312- <br />346-5885 CABLE:RERCO <br />October 20, 1975 <br />NICHOLAS C.) <br />NNOTTA <br />IVE VICE P <br />ZESIDENT <br />Mr. C. <br />Wayne Brownell <br />! �f1L.,,L�'LU <br />�I <br />Exec <br />five Director <br />Department <br />of Redevelopment <br />1200 <br />o.unty -City Building <br />South <br />Bend, Indiana .46601 <br />Dear <br />ayne: <br />Since my very respected associate John Diamond conducted the trans ient.housing <br />market investigation in South Bend, I wanted him to respond to Mr. Gordon <br />Metl ck's letter of October 6th in which the letter made unfounded -aIlegations. <br />In addition, I also find it necessary to respond. <br />It does appear that Mr. Metlock was in an apparently highly emotional state <br />when he wrote his letter. I can certainly sympathize with Mr. Metlock's <br />condi ion, but there must be economic justification for the type of development <br />he had proposed. <br />As yoi know, there is no provision in the adopted urban renewal plan to accommodate <br />transi nt facilities as proposed by Mr. Metlock. Therefore, the City of South Bend <br />could have rejected the bid on the grounds that it did not meet the basic plan require- <br />ments However, in an effort to be absolutely fair, the City elected to reconsider the <br />need or transient facilities in the Central Business District once again, and, after <br />recon ideration, the conclusions were that market conditions could not support the <br />proposed project; I might add, that the current conditions that exist in the real <br />estate industry today are partly the result of ill- conceived projects and in many <br />instan es, would not have occurred had more forethought been given to the basic <br />market needs for space and the financial aspects prior to construction. <br />I am onfident of our market findings and in time, I'm sure Mr. Metlock will come <br />to ap re iate the concern and efforts of the City to make it not only a good com- <br />munit in which to live, but an economically healthy community as well. <br />cc: <br />S1 rely yours, <br />las C. Jannotta <br />on. Jerry J. Miller, Mr. Peter Nemeth, Mr. John P. Slafkosky, Mrs.. Audrey Conley <br />CHICAGO • NEW YORK • WASHINGTON, D.C. • ATLANTA • MIAMI • ST. PAUL • ST. LOUIS • KANSAS CITY <br />DALLAS • HOUSTON SANFRANCISCO • LOSANGELES <br />
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