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South Beni. Redevelopment Commission <br />Regular Moeting - May 16, 1980 <br />6. NEW BUSINESS <br />e. cQntinuect... <br />Nimtz: They manage mortgages <br />or anything relating to real estate. <br />As far as I know their reputation is <br />excellent, but I hven't had any <br />contact with them, I would say for <br />0 or three years. <br />. Ellison: By way of explanation, before <br />we get into contract details, it is <br />appropriate to put into perspective why <br />ere is a need for a so- called leasing <br />agent. This need results from a simple <br />f ct of life, that we are at a point in the <br />Century Mall where in order to continue to <br />package the development, there are certain <br />needs that the public sector has. Within <br />the history of the project we have been <br />involved in an arrangement with the <br />St. Joseph Bank and Trust Company where <br />we hired Rouse Corporation to do a market <br />study and to provide us with a concept <br />plan for the Mall. That study helped <br />to define what the market will bear. <br />Pursuant to Rouse's report the <br />Commission then entered into an agree- <br />ment with Gruen & Associates to take <br />use's concept plan and to begin to <br />translate that into architectural <br />concepts. Also Gruen's work helped <br />tc facilitate the process of discussing <br />the project with all the other private <br />sector actors who are involved in it. <br />The actors, of course, include the St. <br />Joseph Bank and Trust Company, the <br />investor group associated with the mall <br />itself, the General Services Adminis- <br />t ation, etc. Pursuant to the <br />completion of Gruen's work, which <br />we then shared with the public in <br />December of last year, we have spent <br />several months beginning the process <br />Df refining some of the information <br />that Gruen provided to us. It became <br />very clear before last December and <br />c rtainly more clear since the first <br />18 <br />