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South Bend Redevelcpavent Car mission <br />Regular Meeting - October 27, 1989 <br />6. NEW BUS (Cont.) <br />a. con inued... <br />Mrs Kolata: Right. <br />Mr. Nimtz: Anybody else want to be heard <br />on a area east of Howard Park? <br />Mr. Held: My name is Ted Held. I am the <br />owner of property at 802 and 804 E. Wayne <br />and 312 S. St. Peter. I wonder if this <br />new development plan will somehow improve <br />our area or will it simply have an affect <br />on Property taxes. Will we expect to <br />scu*time pay more property taxes? <br />Mrs. Kolata: It will not change your <br />taxes. <br />Mr. Nimtz: Anyone else? Now, we'll jump <br />to the Palais Royale. Jim Childs. <br />Mr. Childs: My name is Jim Childs. I am <br />a partner in the Trust 30560, which owns <br />the Palais Royale building. I'm here <br />today with Bill Furry, another one of the <br />owners in the piece of real estate. <br />We're here today to oppose adding the <br />building to the list of property to be <br />acquired at this specific time. <br />Basically, as you recall, the building <br />was rehabilitated fairly recently, along <br />withassistance from this commission and <br />in rdarx:e with the development plan <br />of this Commission and of the City. 'Ihe <br />plarned use for the building won't <br />charge. Accordingly, the current status <br />of the building is not inconsistent with <br />the general plan of the City as it <br />currently exits. As I've said, the <br />bui lding has been recently renovated with <br />a substantial amount of money placed into <br />that property. Taking the building now <br />would entirely remove that building from <br />the tax rolls, which would seem to create <br />an adverse impact to the citizens. In <br />it seems that at the current <br />tim it would not be in the public <br />interest and would not improve the <br />welf are and well -being of the public to <br />take the building. Thank you. <br />-12- <br />