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RM 02-04-94
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RM 02-04-94
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South Bend Redevelopment Commission <br />a U egular Meeting - February 4, 1994 <br />6. NEW BUSINESS (Cont.) <br />continued... <br />reduced since large vacant structures such <br />as the Transwestern and Avanti Buildings <br />have been demolished by the <br />Redevelopment Commission since that <br />time. <br />2. Since 1986 when the Studebaker Corridor <br />Development Area was found to be <br />blighted and declared a redevelopment <br />area, over 40 structures have been <br />demolished by the Redevelopment <br />Commission. These demolitions have <br />included such large buildings as the <br />Transwestern and Avanti Buildings. <br />Significant costs were incurred in <br />1;4�v remediating environmental problems prior <br />to demolition of these structures. These <br />costs would have been prohibitive to most <br />private sector redevelopment efforts. It is <br />anticipated that additional environmental <br />remediation activities and the associated <br />costs will deter private redevelopment of <br />this Area. <br />Over one - quarter (25.5 %) of the 220 <br />acres of land in the Studebaker Corridor <br />Redevelopment Area is vacant. In Sub - <br />Areas A, B, and C adjacent to the main <br />plant complex (as designated in the Plan <br />for the Studebaker Corridor Development <br />Area), 37.1 % of the land is currently <br />vacant. <br />4. As part of the ongoing efforts of <br />redevelopment in the Studebaker Corridor <br />Development Area, over 26 acres of land <br />C_4_�� -18- <br />
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