RM 01-02-76 - Laserfiche WebLink

Home Browse Search

9. PU�LIC SESSION FOR COMMENTS AND /OR QUESTIONS (Cont'd c. Frances Shop: Discussions on the closing of the Frances Shop raised lengthy questions and answers and seeking the Redevelopment Commissioners to help in any way possible to prevent another building to be- come empty in the downtown area. Mr. Dan Caesar raised numerous questions and stressed anything the Commissioners can do to grant an assistance program to retain that business, or through their legal authority, or to purchase the building from the owner, as it is under a lease operation. Also, that he is concerned about all the other build- ings down there that may be closed unless something is done quickly. Mr. Brownell referred to The South Bend Tribune article that said something about a lack of foot traffic, but that there is probably more foot traffic to the bakery right next door than there is any place downtown. Commissioner Wiggins said the two big draws are between Robertson's and the Dainty- Maid.Bakery, and that of all the places on the Mall [the Plaza], that they probably have the best one; and that this now goes back to what has been said many times - -you cannot do everything for anybody. The guy in the spot has got to do some merchandising. He suggested there may be the possibility that Mr. Fishgrund just wants to retire and quit. He suggested that if the employees were to get organized they would have the same kind of potential here that South Bend Lathe had, for example. As to help through Commission's legal authority, Mr. Butler ad- vised there is nothing this Department can do; nothing this Com- mission can do to make the funds available. Regarding Mr. Caesar's question on perhaps purchasing the build- ing, Mr. Brownell advised that we have no authority to acquire that building under the Program, at this time, or any funds for that. Mr. Kagel advised that the first thing the employees would have to do if they are going to participate, even in a Small Business Administration loan, is to get performance statements prepared, and submit it to the financial institution. This may already have been done. The performance statement is needed to sit down with the Small Business Administration people in reference to fi- nancing that operation. He advised the news media that there has been contact, including with the Chamber of Commerce and with the landlord. The key word is "sufficient leadership" for the people who want the business. As to the proprietor selling to the employees rather than just to close out, Mr. Kagel said the statement is true, but the man who owns his own business has the prorogative of doing what he wants with the business and with the name. There may be legal ties involved and obligations. The name of the business will not be sold to the employees. - 17 -