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South Bend Redevelopment Commission Regular Me ting - January 16, 1981 7. PROGRE$S REPORTS Mr. McMahon: With respect to progress reports, I think through our regular business this morning we discussed the Mo roe - Sample area and the East Bank area where a great eal of the activity is. I would say under the framework of progress reports that we have recently filed our progress report with HUD with respect to the First Bank Center Project and that the project is moving along quite well. If you would like to Jeanne, there may be some s ecific figures you can get from Ann after the meetin ,should you want to fill that in. As you can see, they a e putting up the exterior curtain to the building and th bank portion has gone extremely fast over the last fm weeks. Prior to this time it was primarily being done o the hotel. Also, the steel framework is in pro- gress or the atrium area, and we are pleased with the progre s in that area. Ms. De�beck: What is the progress on Century Mall? Mr. McMahon: We will hope that we can come forward and say something positive in the near future. At this point cannot be specific. I_can say that the process is moving positively and that we would hope that in the near future we can expand on that. Action was taken at the Common Council meeting last week. They adopted an ordinance providing $200,000.00 through a revolving loan. fund w th the intention that the Odd Fellows be the first taker of that. We also have a private party that we are negoti ting with to add another $100,000.00 to that sum and we hope to complete that negotiation in the near future We would assume that the private party would step forward and identify themselves, we have not up to this point, we feel it is their prerogative. Ms. Deibeck: You mean add to the loan? Mr. McMahon: Yes, add to the loan. Like I said, it is their rerogative to step forward. Up until this point in our negotiation with that private party we have been saying we think the Council will provide us with the $200,0)0.00. Now that they have, I think that that can be ver quickly closed and we can pursue our negotiations in tha regard. Ms. De beck: Since the Council has provided the $200,000.00, do you feel that that actually permits you to go ahead with renova ion of the Odd Fellows Building? Mr. McMahon: No.