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10. PROGRESS REPORTS Chair: Are there any progress reports? I see the Katz Building is coming down. Mr. Brownell: Yes, we have asked Mr. Butler to prepare the deed so we can have a closing with Peoples Federal. They have requested a closing so that is in the works too. Mr. Butler: That also is in dictation, has been dictated I should say.. in the process of being dictated. Mr. Brownell: We hope to have a closing on that and the contract with Son eborn regarding that has been signed by Mr. Sonneborn and we have prepared the report to HUD and legal opinion to go with it is in dictation. Jeanne Derbeck: I'd like to ask you if the Commission has any prospects now for new development downtown other than what has already been announced. Mr. Brownell: I have only one word to reply ... yes. Ms. Derbeck: Well? Chair: Jeanne, there is a lot of talking going on. Mr. Wiggins: Not much action, but a lot of talking. Mr. Brownell: We have had meetings and conversations and negotiations and we have prepared documentation and exchanged views and all the rest of the words that don't tell you anything Jeanne. I just can't disclose the state of the negotiations at this time. Ms. Derbeck: Is this just the First Bank or is it something else? We all know the First Bank..I consider that as something announced, even if they haven't picked out their place. Mr. Brownell: I am not limiting this to the First Bank—that's not what I'm talking about. Chair: There are other possibilities. Terry O'Reilly: Are you talking about major developments? Mr. rownell: Yes. Ms. Derbeck: Block 6 is kind of taking care of itself..... Mr. rownell: Yes, we talked about Block 6 before you came in this morning. We have some technicalities to cover for HUD requirements. Ms. erbeck: In regard to the senior citizen's building? Mr, rownell: Yes, they have to go through the transfer procedure, nothing difficult. d"