RM 04-15-88 - Laserfiche WebLink

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South Bend Ri Rescheduled ] elopment commission lar Meeting - April 15, 1988 6. NEW BUSINESS ( Cont . ) g. Continued... Ms. Auburn noted that the marketability of tae apartments is still an issue. She pointed out that Mr. Conard had mentioned in e last meeting that there has been great reluctance on the part of the fina cial community to get involved with the project because of the nature of the prof act. Ms. huburn expressed the opinion that the Co mission had been very fair and patient with Mr. Conard and this project during the nearly three years since it was begun. She Celt that it was a project that was not oing to cone together and was not goin4 to happen. She indicated that she was readv to make a motion. Mr. Conard expressed his opinion that this action would be extremely unfair and uninformed. The project has changed only minutely. He pointed to the other developer who had completely abandoned what he originally started to do and has givei the Commission, at best, prel' nary information and the Co mission has accepted that and amended the =tract. He stated that Mill Race, an Indiana Limited Partnership, has supplied financing commitments and comitments from the construction company. The construction company will supply a firmer quote when Merrill Jones Architects supplies them with final drawings. He stated that the Commission hasinuch more from this project than they do from Lynn Weber and her company: a financing commitment, a contractor, an architect, and a plan. He expressed, again, that he thought it very unfair for the ommission to take that attitude. Ms. Auburn noted that the two projects are separate projects and it is the Co mission's practice to deal with each project independently. She stressed that asa