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South Beno Redevelopment Commission <br />Regular M eting - April 26, 1985 <br />6. NEW BUSINESS ( font . ) <br />a. U4Dntinuea... <br />A re two other bids submitted at a higher <br />price. He learned that one of the bids <br />sibmitted was for a food service /deli <br />o ration. He stated that in his view that <br />was the highest and best use in that area. <br />Brademas stated that while he was ready, <br />w'lling and eager to carry forward his <br />proposed development, he stated he would <br />w'thdraw his bid in favor of the proposal that <br />relates to the deli operation because that is <br />c early what is needed in the neighborhood. <br />Brademas said he anticipated leasing the <br />ttcm to some type of food service operation <br />a-id having four apartments upstairs. He <br />stated though, that if a qualified developer <br />i going to be the end user, they should be <br />g'ven a step up. <br />Kolata noted that Mr. Brademas was <br />ating the project cost to be <br />iximately $120,000. Mr. Brademas said he <br />. not be applying for tax abatement. <br />Doug Way presented the second proposal. <br />Way stated that he represented a group of <br />iur investors who have formed a limited <br />.rtnership for redevelopment of the property <br />icated at 402 and 406 East South Street, also <br />Ierred to as the L. Keen building. He <br />.ated that they feel their proposal offers <br />�e most financially sound, area enhancing and <br />!alistic approach to the development of that <br />'ea. He stated that they offered to put <br />iside the establishment a modern office <br />uplex so divided that the building will have <br />,o separate services, electrical and <br />!chanical. They proposed the building to be <br />,ed as two separate side -by -side office <br />mplexes, one office complex or further <br />viding it into four office complexes. They <br />ticipate enhancing the exterior of the <br />gilding to include paving of the second lot <br />d installing a five foot wrought iron fence <br />th shrubbery and landscaping to fit within <br />�e neighborhood. Mr. Way stated that they <br />.d agree that in years to come the area may <br />!tter be served by specialty shops or a deli, <br />[t they think that it would be hard to <br />-4- <br />