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RM 11-02-79
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RM 11-02-79
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South Ben 0edevelopment Commission <br />Regular Me ting - November 2, 1979 <br />7. PROGREIS REPORTS <br />a. continued... <br />Mr. Ted Wasielewski: Carl's statement about Nick Jannotta's <br />charter confuses me on several points. He said that he <br />was going to evaluate the bids as presented, evaluate the <br />economic viability and look into the future of the office <br />space in South Bend. I thought that the Rouse Study took <br />care of two of those points, one establishing the economic <br />viability of the building, two determining whether or not <br />that building could fit into the mall either as office <br />space or otherwise. So aren't we going back and asking <br />another opinion on something we paid a substantial amount <br />of money for the first time? Also, I thought originally <br />that Mr. Jannotta was just going to look at the bid <br />proposals as they were presented? <br />Mr. Ellison: I can answer that. To clarify what I <br />meant to communicate was that, Jannotta's charter was to <br />look at the Odd Fellows Building in its relationship to <br />existing and planned office space. So as to consider, <br />for instance, if that building is rehabilitated and if in <br />his judgment, it's really Class B office space, to what <br />extent does it compete with existing Class B office <br />space. To what extent might there be some negative <br />impact associated with that. If it's Class A space, <br />based on a time the proposes indicate it may come on line, <br />to what extend will it compete with other Class A space <br />we know is planned and under construction. (The Holliday <br />Corporation is building on Block Six, First Bank Building <br />in the "hole" and so on). All of this is necessary to <br />help the Commission have some assurance that if the <br />building is infact rehabed to offices it would work. <br />That seems to me a reasonable charge to Jannotta, it may <br />in some respect represent a duplication of Rouse, but <br />although Rouse did a market study it took into account a <br />much broader view. Jannotta is actually focusing on the <br />building and looking at the relationship that surrounds <br />it in a much more narrow point of view. And, even if it <br />represents when it's all done a second opinion to me, it <br />still is worth it to the Commission to have that information. <br />Mr. Nimtz: Also, as part of his thinking or study we <br />have had two instances in the downtown area with the <br />LaSalle Hotel and the old Hoffman Hotel where people have <br />started to work on those particular buildings. There <br />were great plans and great hopes and expectations and, <br />after a year or so of work on them, it turned out that <br />they either didn't have the financing or their plans <br />weren't feasible.and so on. This is one of the things <br />the Commission is concerned about with the Odd Fellows <br />Building. <br />-15- <br />
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