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South Ben <br />Commissio <br />Friday, M <br />Redevelopment Commission. <br />ers' Regular Meeting <br />y 5, 1978 <br />6. NEW BO SINESS (Cont'd <br />(d) r. Nimtz: If any of you have been to People's First Federal, they <br />ave done a real nice job of putting in a drive -in- window, and they <br />ave an excellent installation, as they have cleaned up the corner. <br />. Brownell: Yes, and I think Lowes is going to be a very effective <br />dition to the Block 6 development. <br />7. PROGRESS REPORTS <br />There were no progress reports. <br />FLOOR DISCUSSIONS <br />Ms. Derbeck: We always have questions about the First Bank development and <br />what is happening on the mall. <br />Mr. Brownell: On the First Bank, and limiting my remarks to that, at the <br />present time we are waiting for the release of funds on the $7,600,000 letter <br />of credit, and as I understand it, the architects are working on site plans <br />and architectural plans. I would rather not comment at all on the Mall Project <br />because that is the one in which there is a lawsuit, and I have been advised by <br />our attorneys to let them do the talking. <br />Ms. De beck: There is no hold up then on the release of funds? <br />Mr. Brownell: I don't know of any. <br />Ms. De beck: Is that usual to wait a few weeks? <br />Mr. Br wnell: Oh yes, it is normal...the request for release of funds has been <br />mailed out. <br />Ms. De�rbeck: What do you have to do after that? <br />Mr. Br wnell: Wait for Mr. Ellison to receive the release of funds, then he <br />has a etter of credit, and we draw on that. We draw down from Community <br />Development, and they draw down from a letter of credit at a local bank. <br />Ms. Dehbeck: As far as construction is concerned? <br />Mr. Br wnell: Well, you can't very well construct anything until you have some <br />archit ctural plans of what you are going to construct <br />