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South Bend R development Commission <br />Regular Meeting — July 20, 1979 <br />6. NEW BUSINESS (continued) <br />i. continued... <br />Ms. uburn: I think that it would be appropriate <br />for 3ome products, but I don't think it would be <br />appr priate for everything that might seem to meet <br />local needs. I am suggesting that Gruen be aware of <br />our oncerns as a Commission that the rental space <br />not a so exhorbitant`so that it would price out <br />local people. Also, we should look at some alternatives <br />for financing mechanisms or some alternative methods to <br />allo# local people to meet the rental costs. <br />Mr. imtz: We all agree with you. What we are saying <br />is t at the guy who puts up the money has to pay his <br />inte est, etc. <br />Mr. ira: He is going to want a return on his money. <br />You are going to have people moving in and out of the <br />mall. As far as independence goes it is good, but <br />unless the person is established and has a good line of <br />credit, it will be hard for him to get money from the bank <br />to len up a business, unless he has some collateral to <br />put P_ <br />Ms. uburn: I think if we use a traditional approach <br />it will open us up to some problems, because I don't <br />feel there are an overwhelming number of local businesses <br />that have been termed "successful ". I think we really do <br />deal with a lot of out -of -town business structures. <br />Mr. llison: Gruen is aware of our desire for the mall <br />to be something unique. But remember that the mall project <br />is n t just a "mall project." There is more involved here. <br />So m ch of Gruen's attention will go beyond how the retail <br />portion should be done, but also how "from a design stand- <br />point" this site can be related to everything else down- <br />town so that it will function as a unit. Gruen's work is <br />necessary to put together a project of this nature. I <br />believe they will have some preliminary concepts that may <br />be a ailable to the Commission sometime in early August. <br />Mr. <br />ente <br />Grue <br />acti <br />to b <br />revi <br />carr <br />,obinson made a motion that the staff prepare and <br />into an agreement for professional services with <br />i Associates, Inc. in connection with land disposition <br />Fities in Ind. R -66 (Century Mall) with estimated cost <br />from $95,000 $11.2,000, subject to legal counsel <br />�w, seconded by Ms. Auburn, and the motion was unanimously <br />led. <br />-11- <br />