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South Bend Rldevelopment Commission <br />Regular Meeting December 19, 1980 <br />7. NEW BUSI <br />c. contilnued... <br />Mr. Robinson made a motion to approve the 312 <br />Loan proposal in accordance with recommendation <br />of the Bureau of Housing. The motion was <br />seco ded by Mr. Cira and unanimously carried. <br />8. PROGRESSIREPORTS <br />Mr. McMahon: We have only one progress report, and <br />that is from the staff of the Commission. I wish you <br />all a very Merry Christmas and Happy New Year. We <br />hope to see you.on January 2, 1981. <br />Mr. Nimt : We return the compliment and the best <br />wishes. We hope that everyone returns safely after <br />the New Year. <br />Mr. Nimt : Any statements or comments from the <br />public or press? <br />Ms. Derb ck: We have been waiting and waiting to <br />hear this report from Baird and Warner about Century <br />Mall. <br />Mr. McMa <br />The enti <br />lates to <br />town Cen <br />of the e <br />slow or <br />have com <br />have rem <br />would ha <br />is now, <br />City are <br />would ho <br />that tha <br />now I th <br />you are <br />be, look <br />as seein <br />I don't <br />to 20% i <br />ion: Their report has not been completed. <br />•e crux of the Baird and Warner report re- <br />how one might finance and package the down - <br />;ury Mall. I think that the current state <br />:onomy dictates whether or not that happens <br />=ast. I think if the interest rates would <br />down at the end of last summer, and would <br />tined down for some period of time, it <br />re greatly facilitated that work, but as it <br />:he Investor and Baird and Warner and the <br />struggling with that information. We <br />)e that the economic conditions improve so <br />t can be forthcoming sooner. But right <br />ink it is safe to say that everyone, whether <br />involved with the mall or.-whatever it might <br />forward to some time in the near future <br />a something happen that is going to change. <br />think anyone has reconciled themselves yet <br />iterest rates. <br />13 <br />SECTION 312 LOAN <br />PROPOSAL APPROVED <br />