RM 11-02-79 - Laserfiche WebLink

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