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RM 04-25-80
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RM 04-25-80
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South Bed Redevelopment Commission <br />Regular Meeting - April 25, 1980 <br />4. CO UNICATIONS <br />a. ontinued... <br />.1r. Nimtz: It is a corporation to be formed, <br />t has not been formed yet. <br />s. Derbeck: How much of the interest is <br />ith this South Bend group; about which I <br />ave heard some remarks which lead me to <br />elieve that it is not all that smart. <br />1r. Ellison: Ms. Derbeck, in answer to <br />our question, the proposed ownership in <br />he South Bend Building Corporation would <br />e 50o to Mr. Sam Kalman and the other <br />Oo would be to Michiana Regional Warehouse. <br />1s. Derbeck: Is that how they are putting <br />tm the money? <br />. Ellison: I don't know how they intend <br />o put up the money. <br />. Derbeck: I think that is the real question. <br />vTayor Parent: We did not initiate contact <br />ith Mr. Kalman or with Mr. Nelson; they <br />alled us and they basically said they were <br />'nterested in the building, and they have <br />een doing that ever since. Why should <br />they implicate interest, there is absolutely <br />o reason for them to indicate interest <br />if they are not serious about successfully <br />completing the renovation of the building. <br />In addition to that, both Mr. Ellison and <br />have talked to W. Kalman and W. Nelson. <br />We have visited buildings that he has <br />renovated which were much larger than this <br />ne. One of them is a 250,000 sq. ft. <br />uilding in San Francisco. On the day <br />e were there he acquired another similar <br />uilding which he was going to renovate. <br />talked to his insurance broker personally <br />nd he said that if Mr. Kalman needed to <br />ave $200,000 performance bond, he could have <br />at any day of the week with no questions <br />F tiked. We have not made any inquiries, <br />least, I have not, with his work in <br />tchita, Kansas, but in fact, he has <br />-23- <br />
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