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South Bend Redevelopment Commission <br />Regular Me ting - March 14, 1986 <br />6. NEW BU�INESS (Cont.) <br />d. Continued... <br />parcels was $58,500. The components of the <br />project would include a 17 -story residential <br />tower containing 208 apartment units, <br />approximately 20,000 square feet of .commercial <br />space and a 300 -car parking structure across <br />th street from this tower. The total project <br />co t is $18,500.00 which is approximately <br />$8 ,000.00 per dwelling unit. <br />Mr. Hunt noted that Mill Race Apartments have <br />already filed a petition with the Board of <br />ZorLing Appeals for permission to go above 12 <br />stories and for the parking plan. The <br />petition is scheduled for hearing March <br />27 h. The developers have the end loan <br />financing in place and are presently working <br />on the construction financing. <br />Kolata explained that Mill Race <br />tments is bidding on an 11' strip that was <br />included in the original parcel because <br />original plan was to widen Niles Avenue. <br />plans to widen Niles Avenue have since <br />amended. The other parcel they are <br />ng is the former Luther Beverage property <br />ss Niles Avenue where the project parking <br />lity will be located. <br />Th re was one matter in the bid that was not <br />consistent with the bid specifications, but it <br />is the Commission's desire to retain the <br />original bid specifications. <br />Upon a motion made by Mr. Combs, seconded by <br />Ms Auburn and unanimously carried, the <br />Conmission accepted the bid from Mill Race <br />Apartments for Parcel E9 -11, E3 -3a and E3 -4a <br />provided that the bidders agree to withdraw <br />th condition in Exhibit 3a of their proposal <br />and to.be in conformity with the bid <br />sDecifications as advertised. <br />e. C ssion approval requested for a Contract <br />for Professional Services with S rin sted, <br />Incorporated related to Tax Increment <br />-5- <br />COMMISSION ACCEPTED THE <br />BID FROM MILL RACE APARTMENTS <br />FOR PARCEL E9 -11, E3 -3a AND <br />E3 -4a PROVIDED THAT THE <br />BIDDERS AGREE TO WITHDRAW <br />THE CONDITION IN EXHIBIT 3a <br />OF THEIR PROPOSAL AND TO BE <br />IN CONFORMITY WITH THE BID <br />SPECIFICATIONS AS ADVERTISED <br />