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South Bend <br />Regular Me <br />6. NEW BU <br />f. Co: <br />elopment Commission <br />- April 27, 1984 <br />( font . ) <br />northern end of this property for further <br />negotiations with the Teacher's Credit Union. <br />She explained that all of this works together <br />to provide access to TRANSPO, TCU and any <br />other future developments in this block. <br />Upon a motion made by Mr. Paisecki, seconded <br />by Mr. Donaldson and unanimoulsy <br />carried, authorization was approved to <br />petition for vacation of part of a North -South <br />all v in the Central Downtown Urban Renewal <br />1 No. 11 and <br />Street in th <br />the west one half of vacated <br />Monroe Sample Develoment <br />Ms. Auburn noted that this was a new item <br />add d to the agenda. <br />Mrs Kolata presented two proposals that were <br />received for Parcel No. 11 and the west <br />one-half of vacated Rush Street in the Monroe <br />Sample Development Area. Mrs. Kolata <br />explained that the Commission was aware of the <br />int rest of two separate bidders, and they <br />wer asked to submit information to the <br />Co ssion by April 16, 1984. <br />The first proposal came in from Panzica <br />Development Company. Panzica Development <br />Company's proposal was submitted at the <br />minimum bid offering price of $17,900. They <br />have proposed to construct a building of <br />approximately 14,400 square feet. The second <br />phase of the project would be to construct an <br />additional 7,680 square feet on to the rear of <br />the building. The second phase would be built <br />when additional space is needed by either of <br />the two tenants. The building would be used <br />for rental space for high tech firms with <br />office space in front and warehouse operations <br />in the back. They propose to break ground in <br />Jun E, 1984, and have occupancy in October. <br />The represented that they have the building <br />50% leased to a firm moving from another <br />CrG <br />COMMISSION AUTHORIZED TO <br />PETITION FOR VACATION OF <br />PART OF A NORTH -SOUTH ALLEY <br />IN THE CENTRAL DOWNTOWN <br />URBAN RENEWAL AREA <br />