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South Bend edevelopment Commission <br />Special Meeting - December 16, 1985 <br />3. NEW BUSMSS (Cont.) <br />a. c:onitinuea... <br />Was ington in terms of Industrial Revenue <br />Bons and Multi- Family Revenue Bond financing <br />whic,h would affect the project adversely in <br />the long run. <br />Mrs Kolata reviewed the items considered by <br />the Commission in reviewing the proposal for <br />Parcel E3 -3 and E3 -4. These considerations <br />inc ude a purchase price of $96,000 with <br />construction to start within six months and to <br />be completed within 24 months after the start <br />of construction. A couple other issues have <br />to be resolved and resolution of those issues <br />wou d be incorporated into the contract for <br />sale of land. These include zoning issues <br />hav ng to do with the height of the building <br />needing a variance to go up the 17 story <br />height, other permits such as the FAA approval <br />because it is in a flight pattern, and meeting <br />all other zoning requirements within the six <br />month period. The Commission would also like <br />to have some further discussion with the staff <br />concerning the actual placement of the <br />building on the site and some design issues as <br />they relate to the East Race and public access <br />to and around the building. Another element <br />of the project would be a parking structure <br />that would need to be built across the street <br />on the east side of Niles Avenue. At the <br />present time the Commission owns that property <br />and has not put it up for public bid. The <br />CormLission expects to do that within the next <br />month or two with part of the condition that <br />Mr. Conard would have to publicly bid for that <br />prorerty and hopefully be awarded the sale of <br />the property assuming he meets the conditions <br />of tfhat sale. There are the conditions that <br />the Commission wants to incorporate into the <br />cont1ract for sale of land. <br />Mr. Hunt commented that all the conditions are <br />critical elements that will take the project <br />to the next step. There are, however, no <br />assurances that the project will occur even if <br />the proposal is accepted by the Redevelopment <br />Co mission. There are certain factors beyond <br />eve ones control in terms of the tax aspects <br />and hanges in national legislation. There is <br />mgm <br />