Laserfiche WebLink
South Ben Redevelopment Commission <br />Regular M eting - May 13, 1983 <br />6. NEW Bt7SINESS (Continued) <br />1. uonrcinuea... <br />d the other by St. Joseph Office Building Associates. <br />th bids met the minimum bid price of $144,400. The <br />staff is recommending that the bid be awarded to CLF <br />Corporation on the basis that their bid most closely <br />meets the specifications required in the bid packet. <br />A so, their proposal includes approximately 50,000 <br />square feet more net leaseable space than the other bid, <br />it has a better utilization of the site, they are in <br />agreement with us that we need to go outside of the <br />South Bend corrinunity to attract new business and they <br />will develop a marketing program to sell South Bend <br />to major users of office space. The principals in <br />CLF Corporation have had experience in developing <br />s zeable projects. They are currently building a $60 <br />Ilion, 51 story building in Chicago know as Ontario <br />P ace, they developed the Abbey Inn at Lake Geneva <br />a d the McCormack Inn in Chicago. We feel that they <br />have the expertise and contacts to develop and market <br />is project. Their proposal calls for.the -start of <br />construction within five years and they have agreed to <br />include in the Contract for Sale of Land provisions for <br />r gular progress reports and milestones of steps to be <br />a conplished. They will also work with prospective <br />3 velopers and /or users of sapce in putting this project <br />. Nimtz commented that this has been a tough decision <br />t make. Both bids were good and both developers have <br />a good track record. We have studied the bids thoroughly <br />d are now prepared to make a decision. <br />:)n a motion made by Mr. Donaldson, seconded by <br />. Robinson and unanimously carried, the bid for parcels <br />28, 4 -29, 4 -30 and part of 4 -3 and the vacated east - <br />at alley in the Central Downtown Urban Renewal Area <br />E; awarded to CLF Corporation subject to negotiation, <br />=paration and execution of Purchase Agreement, Deed and <br />lated documents and approval of legal counsel and the <br />mission officers were authorized to execute the neces- <br />ry documents. <br />j. C ssion approval requested for adoption of Affordable <br />Program Guidelines <br />1 <br />. Holston commented that in recent months there have <br />been many rehabilitation loans made due to the high <br />t of doing total code rehab and the inability of low <br />moderate inane individuals to afford these loans. <br />Affordable Loan Program would still require all code, <br />ns to be repaired but loan recipients would only pay <br />k a portion of the loan depending on their income_ <br />ff:Z <br />BID FOR PARCELS <br />4 -28, 4 -29, 4 -30 AND <br />PART OF 4 -3 AND THE <br />VACATED EAST -WEST <br />ALLEY IN THE CENTRAL <br />DOWNTOWN URBAN RE- <br />NEWAL AREA WAS AWARDED <br />TO CLF CORPORATION <br />