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South Bend evelcpment Commission <br />Regular Mee ing - January 26, 1990 <br />6. NEW BUSUESS (Cont.) <br />a. conMinuea... <br />b. <br />per od of exclusive negotiations for the <br />parcels. He is proposing a two phased <br />pro ect of class A+ office space, <br />consisting of two 110,000 sq. ft. towers, <br />seven stories each, connected by a one or <br />two story atrium that would serve as a <br />common lobby and would contain the <br />building's amenities package. This <br />pro would maintain the visual <br />co idor requirement laid out in our <br />Mi igan Street plan. <br />Continental. Offices Ltd. built a <br />1,0 0,000 sq. ft. office building in <br />downtown Chicago which houses the Midwest <br />Stock Exchange. They have also built <br />sev office buildings in the Chicago <br />near O'Hare Airport. <br />Ms. Hickey noted that the staff <br />r entering into the 60 day <br />exclusive negotiation period with the <br />developer. During this period the <br />dev lcper plans to obtain a commitment <br />letter financing and to nearly <br />cxxnplete the architectural drawings for <br />the Drol ect. <br />Ms. Auburn asked if the developer has <br />been in town studying the market and <br />making financing contacts. Ms. Hickey <br />repronded that he has been making those <br />Upon a motion by Mr. Combs, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Commission authorized the staff to enter <br />intc a 60 day period of exclusive <br />neg tiations with Continental Offices <br />Ltd. for parcels C4 -3 and C4 -30 in the <br />South Bend Central Development Area. The <br />60 day period will begin January 29, <br />199% and conclude March 30, 1990. <br />-3- <br />TO ENTER A .• DAY PERIOD OF <br />EXCIUSIVE NEGOTIATTONS <br />CONTTNENTAL OFFICES LTD. FOR <br />PARCELS C4-3 AND C4-30 IN THE <br />SOUTH BEND CENTPAL DEVELOPMENT <br />AREA <br />