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South Bend #edevelopment Commission <br />Regular Mee ing.- August 8, 1986 <br />W <br />NEW BUSINESS (Cont.) <br />e. Continued... <br />Upon a motion made by Mr. Combs, seconded by <br />Mr. Donoho and unanimously carried, the <br />CormLission authorized the request to publish <br />Notice of Intended Rental of Property referred <br />to as State Theater storefront in the South <br />Ben Central Development Area with publication <br />dates to be August 15, 1986 and August 22, <br />198E, and receipt of bids to be at 10:00 a.m. <br />on September 2, 1986. <br />f. Cormission a royal requested for Resolution <br />No. 782 approving the fair re -use value of <br />land in the South Bend Central Development <br />Mrs. Kolata explained that Parcels No. C9 -1 <br />and 9 -2 are located within the downtown area. <br />One parcel is the property just north of <br />Inwcods on Michigan Street and the other is <br />the lot at Main and Western Avenues. Because <br />the alley and the area needed for the service <br />drive which has never been completely <br />developed is in between the two parcels, they <br />are considered to be two separate parcels of <br />land. The staff is recommending to offer both <br />parcels together and not offer them <br />individually. The minimum specifications call <br />for 40,000 square feet of development of <br />officce and /or commercial space with a <br />preference towards buildings that have first <br />floor retail and structures built along <br />Michigan Street. The specifications will <br />allow the development to be split into more <br />than one building. All the property does not <br />have to built along the Michigan Street side. <br />Reso ution No. 782 sets the price for the two <br />pro ties and the proposed re -use. <br />Mr. Junt commented that the reason the staff <br />is recommending that the two parcels be sold <br />together is that if the smaller parcel is sold <br />separately it would probably adversely affect <br />a larger development in terms of today's need <br />for mrking, etc. The staff is anticipating <br />the development of a larger structure on the <br />larger lot if parking is available adjacent to <br />it. He also noted that to date there has been <br />no interest expressed in these parcels. The <br />stafp is merely testing the possible market <br />for Oevelopment of the parcels. <br />COMMISSION AUTHORIZED THE <br />REQUEST TO PUBLISH NOTICE <br />OF INTENDED RENTAL OF <br />PROPERTY REFERRED TO AS THE <br />STATE THEATRE STOREFRONT <br />IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA WITH <br />PUBLICATION DATES TO BE <br />AUGUST 15, 1986 AND AUGUST 22, <br />1986, AND RECEIPT OF BIDS <br />TO BE AT 10:00 A.M. ON <br />SEPTEMBER 2, 1986 <br />