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South Regul Augus Bend Redevelopment Commission it Meeting ; 19, 1977 7. F�OOR DISCUSSION (Continued) "I happen to be lucky that my survival is not in question, but there ar,e retailers in this room and in this community whose survival is not ii question, but there are retailers in this room, and in this community w ose survival is at stake. I am going to move my headquarters to T wn and Country, and I will still have three stores in South Bend. I'll have Scottsdale, Town and Country, and University Mall. I will still be here, I don't know about the others. If I happen to come back downtown, it will cost me the price of moving, which you say you will compensate for me, a move I do not desire to make, I lose my complete fixture account, there is not compensation for those fixtures. If somebody is to relocate, they have to re- fixture a store at their c st. I lose profits for the years that I am out of business, and t en I have the cost of re- fixturing a new store and occupying a s ace at a higher rental, because the rental will be higher. If y u double or triple the cost of the occupancy, expense survival is a other question. I could go on for quite awhile about the penalties wa suffer, but again, I want to re- emphasize, if the mall has a chance f r success, I will not fight it or stand in the way, but all I request of this board is that you give it more serious thought than the i vestors real estate investment, there is not one merchant, true h nest to god merchant in that investor group. Thank you." Mr. Nimtz thanked Ed and stated that we have always appreciated his counsel and advice. Further, it is unfortunate that Mike Carmichael did not live, however, his son -in -law, Mr. Murphy, is very active in the projects that might add on the drawing board. Mr. Nimtz commented further to Mr. Wertheimer that the Superblock was not our proposal. The Commission is dependent on entrepreneuers, as is known from your past connection with the Commission. We can't go out and get leases or develop this on our own, we are bound by HUD regulations, and are dependent on private enterprise to go out and do this. This project is a group of entrepreneurs willing to put their reputation and money on the line hoping it will go. h . Nimtz recognized Mrs. Pat Hughes, of the Lane Bryant store. s. Hughes asked that in the talk earlier of the feasibility studies, d there been any communications to the utilities in the building of is mini -mall? Under Michigan Street a network of utilities, water, s, electric, and telephone is buried, and in front of Lane Bryant five ton electric transformer is also buried. Have there been studies ne on this? 13