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South Bend edevelopment Commission <br />Regular Meeting - March 28, 1986 <br />6. NEW BUSINESS (Cont.) <br />e. uontinuea... <br />A proposal was also received from T. Brooks <br />Bra emas. His offering price was $170,000.00. <br />The estimated project is approximately $3 - <br />3.5 million. The project would also be a <br />health and lifestyle center for Memorial <br />Health Systems, Inc., consisting of a two <br />story, 33,000 square foot building, and <br />approximately 70 parking spaces. The building <br />wou d be located at the intersection with <br />parldng to the north of the building. The <br />ext rior materials would include brick and <br />gla s. The projected completion date is <br />Dec er 1986. A sketch of the proposed <br />project was distributed. <br />Mr. Hunt indicated that it is the intent of <br />the Commission not to award a speculative <br />building or to award to a developer who may be <br />putting up a speculative building. Both of <br />the bidders' bids are contingent upon <br />receiving the award of the lease from Memorial <br />Health Systems for the health and lifestyle <br />center. Mr. Hunt noted for the record that <br />this is a taxable property. The Commission <br />will proceed by noting that both bids in <br />general would be acceptable by the Commission <br />and staff, however, the hospital will have to <br />make a choice in terms of the developer they <br />would like to see develop the property. There <br />are some general design issues that have to be <br />ad essed regardless of the developer, <br />particularly as to how the building relates to <br />the raceway, landscaping and parking issues. <br />Mendrial Hospital is anticipated to make a <br />decision by the end of April. <br />Ms. Jeanne Derbeck asked why Memorial Health <br />Systems did not bid directly on the property. <br />Mr. Hunt responded that it is a policy that <br />rial has been following for development of <br />physical facilities that they prefer to lease <br />from a private developer to allow the <br />development to be taxed. Parcel E2 -15 was bid <br />as general development with the Commission's <br />preference of residential development. It was <br />ind sated in the bid packet that the Commisson <br />wou d accept bids other than residential if it <br />