RM 08-19-77 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Me ting August 19, 1977 7. FLOOR DISCUSSION (Continued) 2) Wa there an Environmental Impact Statement written as required by HUD? Who put input into this statement? Is this everyone that is affected and everyone that is supposed to have input into the Impact Statement? 3) Mr. Nimtz: At the last meeting of the Historical Preservation Co mission, a Commission which you are also a member, you ex lained relocation funding for a merchant who is a tenant. P1 ase reiterate that and expound on what you said Monday ev "ni ng . As I onclude, I would like to caution in the words of Sir Winston Churc ill: 'If we open a quarrel between the past and the present, we sh 11 find that we have lost the future.'" Mr. B ownell answered Ms. Schankerman's question regarding the Envir nmental Impact Statement and indicated that this has been caref lly discussed and examined with help from Real Estate Resear,ch Corporation and in addition to this, we have examined the matter with Mr. Al Candler and look at his letters of intent from the tenants, with amounts of rent, percentage of override, of which there are approximately forty letters. We consider this one oF the best assurances that you are going to be able to use them ll. Mr. Candler has eight investors with means that can carry the project, and there are an additional three investors that want o buy 21% of the project. These people have done this type of de elopment before and many are involved in the Block 6 project which has been very successful. In discussing this project with the o ficials in the Area Office of HUD we have been encouraged, as HU will produce a substantial sum of money, (Two Million, One Hundr d Thousand Dollars) and will be contacting the Mayor in a few days about the very matter to which you are referring, namely the conditions that we have to have in order to assure HUD of the viability of this project and that it is sound financially. We feel that we have covered this matter very carefully, we have had experienced appraisers to help in the estimation costs, check properties, and other professional people on relocation and advice on costs of the project, so we feel that we have done a substantial amount of study and prepa ation of this project. Ms. S hankerman asked if we were going to have all chain stores, and w re we pushing out all the local merchants, specifically, how many f these merchants are local merchants? 9