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South B <br />Regular <br />Redevelopment Commission <br />ting - January 2, 1980 <br />4 COM"I CAT IONS <br />a. Getter from Mr. Brademas continued) ... <br />We teasoned that i4 we had matfieted 40,000 <br />. 6t.. of space to the Genetat Setw.ice/s Adm.in <br />ttati.on, since we have a.?tready zeeuAed a comm-i t- <br />ent {ion the gnou.nd 4toot and the ninth and <br />nth JtooAs of the building, this would mean that <br />100% o 4 the building had been pneeommitted and <br />etce cowed be no q ue,st ion about the 4inane i.a2 <br />v ab-ie.ity. However, we have had an oppotitunity <br />to di,s eu6/s this in some deta it with the {jitcm that <br />h committed to provide the $2.5 m-%Won o4 <br />nano ing to percmit us to Iota y tenovate the <br />bidtding, and they be?.ieve that we wou.2d be in a <br />ongen pozition with out pnojeet t�j the new <br />G A bui e.ding were consttruated. <br />lit addition.. they are o6 the opinion jytom the-it <br />own anatysis, which iz 4uUy suppotrted by the <br />,studies o4 the Rouse Company, that thetce is a <br />ve&y stung demand jon o jj iee space in the ptc ivate <br />etot. They have suggested 6t&ongty that we tap <br />c s market. They point out, and we 4u t y concuA, <br />at at today's cowstnucti.on costs it WiU not be <br />p sz ibte to pnov.i,de newly consttcucted space at the <br />$ 0 to $12 pen s quaAe foot torte which the Rouse <br />C mpany tepoAt .indicated woued need to be met in <br />1 , 79 dot2.a us, in oAdet to tap a �sign- 4cant potrtion <br />o the ma&ket. <br />OL& decision to w.ithdtaw out pnopozae and to not <br />p e/ss JuAther on the idea o4 teasing the Odd 1=eUows <br />Bidtding to the GSA at6o stems Jtom ouA undetustanding <br />o the des-itce on the pact of the City to use the <br />phopozed new GSA buiedi,ng as pact o4 the matching <br />ctot n conjunction with a teque�st jon another <br />U in <br />Grant to .6 uppotrt the deveto pment o4 Centulty <br />It is certainty not our wish to do anything that <br />w ued dettcact Jnom the s uccets.6 o j the Maet <br />d vetopment and the overall downtown renewat <br />p gram. Accotcdingt y, we ate advising you that <br />w cute witkdAawing o un pro pops al that the o j 4%ee <br />� ace in the Odd 1=e llow�s Building be ut i Uzed by <br />t o GSA in view o f the/ se 4aetotus . <br />-3- <br />