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RM 01-16-81
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RM 01-16-81
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South Bend Redevelopment Commission <br />Regular Me ting - January 16, 1981 <br />7. PROGRE$S REPORTS <br />Mr. McMahon: With respect to progress reports, I think <br />through our regular business this morning we discussed <br />the Mo roe - Sample area and the East Bank area where a <br />great eal of the activity is. I would say under the <br />framework of progress reports that we have recently filed <br />our progress report with HUD with respect to the First <br />Bank Center Project and that the project is moving along <br />quite well. If you would like to Jeanne, there may be <br />some s ecific figures you can get from Ann after the <br />meetin ,should you want to fill that in. As you can see, <br />they a e putting up the exterior curtain to the building <br />and th bank portion has gone extremely fast over the <br />last fm weeks. Prior to this time it was primarily being <br />done o the hotel. Also, the steel framework is in pro- <br />gress or the atrium area, and we are pleased with the <br />progre s in that area. <br />Ms. De�beck: What is the progress on Century Mall? <br />Mr. McMahon: We will hope that we can come forward and <br />say something positive in the near future. At this <br />point cannot be specific. I_can say that the process <br />is moving positively and that we would hope that in the <br />near future we can expand on that. Action was taken at <br />the Common Council meeting last week. They adopted an <br />ordinance providing $200,000.00 through a revolving loan. <br />fund w th the intention that the Odd Fellows be the first <br />taker of that. We also have a private party that we are <br />negoti ting with to add another $100,000.00 to that sum <br />and we hope to complete that negotiation in the near <br />future We would assume that the private party would <br />step forward and identify themselves, we have not up to <br />this point, we feel it is their prerogative. <br />Ms. Deibeck: You mean add to the loan? <br />Mr. McMahon: Yes, add to the loan. Like I said, it is <br />their rerogative to step forward. Up until this point <br />in our negotiation with that private party we have been <br />saying we think the Council will provide us with the <br />$200,0)0.00. Now that they have, I think that that can <br />be ver quickly closed and we can pursue our negotiations <br />in tha regard. <br />Ms. De beck: Since the Council has provided the $200,000.00, <br />do you feel that that actually permits you to go ahead with <br />renova ion of the Odd Fellows Building? <br />Mr. McMahon: No. <br />
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