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Redevel pment Commission <br />Regular Meeting <br />Novembe 3, 1978 <br />6. NEWIBUSINESS (Continued) <br />b. �(Mr. Ellison continues) ... <br />In conversations between the St. Joseph Bank, primarily, and <br />the Mayor, there was a desire to have the American Cities <br />Corporation do a study of the mall project. The aim is to <br />analyze the market to determine if the mall should be <br />larger, or if the existing retail will be successful and to <br />profile and examine all relevant, economic, and physical <br />social conditions, which may affect the development. The <br />hope is that the Rouse Corporation may find itself in a <br />position to either help us further develop the project <br />or perhaps play a role similar to Gerald Hines, in the <br />Urban Development Grant Project. They bring expertise <br />which lends quality to the project and further assures <br />its success. The cost for the market study to be done <br />by the American Cities Corporation is $75,000.00, with a <br />10% reimbursable fee of $7,500. It is proposed that the St. <br />Joseph Bank and the City divide the cost. The City's portion <br />of the cost would come out of the money which we have received <br />from community development for the Century Mall project. <br />The study will take place over a six month period. <br />Mr. Nimtz: I presume that there is no action necessary <br />by the Redevelopment Commission? <br />Mr. Ellison: That is correct. <br />Mr. Wiggins: I might report that one of the representatives <br />on the Mayor's Advisory Committee, in terms of the architecture <br />selection along with various others that attended a meeting, <br />were of the unanimous opinion that in all of our meetings <br />with architectures and developers, it surfaced that what was <br />needed the most was a developer, and then an architect. All <br />plans have to be completely drawn up with potential customers, <br />and the plan has been designed to meet the demands of your <br />tenants. This is the way the business community is expecting <br />it to operate. So, under this term, it appears that what we <br />need to do is develop the kind of input, information, and <br />perhaps the kind of expertise attached to a developer that <br />would cause the other things to happen. This is why the <br />market study would have to be done. It appears to be <br />another step in getting the Century Mall completed. I feel, <br />as I hope the other commissioners do, that if at all possible <br />the mall ought to be more than a single story mall development, <br />because it is prime land. <br />-4- <br />