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South Bend edevelopment Commission <br />Regular Mee ing - June 14, 1985 <br />6. NEW BUSINESS (Cont.) <br />a. uontinuea... <br />4. The number of retail establishments has <br />decreased from sixty -six (66) in 1977 to <br />twenty -seven (27) at the present time. <br />Of the 350,293 square feet of retail <br />space, 229,873 square feet, nearly <br />sixty -six percent (66 %), is vacant. <br />5. The number of restaurants has decreased <br />from fifteen (15) in 1977 to nine (9) at <br />the present time. Of the 39,067 square <br />feet of restaurant space nearly nine <br />percent (9 %) is vacant. <br />6. Thirty -five percent (35 %) of the store <br />fronts are currently vacant. <br />In the portion of the Area previously <br />designated as the East Bank Development Area: <br />1. Twenty -nine percent (29 %) of the land is <br />currently vacant. (This does not include <br />land used for streets and alleys.) <br />2. There are sixty -one (61) commercial <br />structures. Four of these structures have <br />been acquired by the Department of <br />Redevelopment and are scheduled for <br />demolition. These buildings contain <br />53,280 square feet and are on parcels <br />totalling 92,448 square feet. When <br />cleared, this will mean an additional <br />four percent (4 %) of the area will be <br />vacant, making a total of thirty -three <br />percent (33 %) of vacant land, exclusive <br />of streets and alleys. <br />3. An additional ten structures are vacant <br />and not scheduled for Redevelopment <br />acquisition. These buildings contain <br />114,090 square feet of space. Six other <br />structures are underutilized or partially <br />vacant. These buildings contain 304,104 <br />square feet of space. <br />4. Of the sixty -one (61) commercial <br />structures, approximately eighty -two <br />percent (82 %) require cosmetic and /or <br />structural repairs. <br />-15- <br />