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South Bend Redevelopment Commission <br />Special Meeting - February 26, 1979 <br />The Chair ecognized that since there were no bids received, the Redevelopment <br />Commission under the rules and regulations of HUD and under the laws of the <br />State of Indiana may proceed to negotiate with interested parties. The Chair <br />noted that any development detail except land costs may be negotiated within the <br />next 90 days. After this period, land costs may also be negotiated. <br />FLOOR DISCUSSIONS <br />Mr. Dave A�derson: Mr. Ellison, does the fact that you did not receive any bids <br />concern yo at this time, and why were no bids received? <br />Mr. Elliso : The fact that we did not receive bids does not concern the department <br />in any way. There are a variety of reasons why we did not receive bids at this <br />point. The only developer known to the Commission is the group that is interested <br />in developing a hotel, a bank and public uses connected with the project. At this <br />point, the architecture is only about 40% completed. Consequently, exact configur- <br />ation of t e buildings has not been settled. Since the buildings are likely to be <br />situated o a portion of one or more parcels that are offered; land will likely be <br />disposed o by surveyed description. It is estimated that project design will be <br />at the poi t where that can happen within the next 90 days. The full designs are <br />to be comp eted by June 30, and the project is expected to go for bids in July. <br />Actual construction is expected to begin in August. It will be necessary that the <br />Commission dispose of the land by exact survey description so that the Commission can <br />approve the development and also assure that it is built. as promised. Those particular <br />details are not available at this time. Consequently, there are no proposals. <br />Mr. Dave derson: Does that mean the minimum price is still $3.00 a sq. ft., which <br />was the ap raised value of this land? <br />Mr. Elliso : That is correct. Within the next 90 days we may negotiate a number of <br />items, but we cannot negotiate land cost. <br />Mr. Larry �ord: Mr. Ellison, what kind of items would be negotiable? <br />Mr. Ellison: Well, from the standpoint of total project, because it is a mixed -use <br />development, it is a little different from the normal kind of renewal development in <br />which we simply sell land. Among the side issues are questions like: parking arrange- <br />ments (there are approximately 700 parking spaces below ground), which accommodate <br />the hotel's desire for a guarantee of so many spaces to be available to it; likewise <br />the bank in connection with leasable office space they are going to have above the <br />bank wishes so many spaces to be made available. There are easement agreements which <br />have to be negotiated since the project will have to be serviced. Finally, there are <br />questions of timetable since when the Commission accepts a project, it will do so <br />with a rather specific timetable that must be adhered to. These and similar side <br />issues have to be negotiated. <br />Ms. Jeanne Perbeck <br />may not buy up all <br />you are saying? <br />In short then, what you are saying is that the First Bank project <br />the land, but leave some to the City to build a garage, is that what <br />E <br />