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South Bend Redevelopment Commission <br />Regular Meeting - October 7, 1994 <br />6. NEW BUSINESS (Cont.) <br />e. continued... <br />not seek tax abatement for phase one of the <br />project. If they are not the exclusive <br />developer of this site, the competitive nature <br />of the bidding will make tax abatement <br />necessary. <br />Phil Panzica addressed the nature of the <br />architecture proposed and the reasoning <br />behind it. He reminded the Commission of <br />the high quality of Panzica's development <br />projects, whether office or industrial. The <br />tenant's requirements are very stringent and <br />were not able to be met in existing <br />structures in downtown South Bend. <br />Panzica identified this site early on as a high <br />profile site, suitable for this project. They <br />would have brought an offer to the table a <br />lot sooner had the mechanisms been resolved <br />between the Commission, the staff and the <br />realtors. Panzica's approach was to propose <br />a stand alone, institutional quality building <br />for the site. Their research indicated that <br />this is what the client purchases in other <br />communities and that they are willing to pay <br />for it. Panzica wanted to bring that quality <br />of a building to this community. <br />They intended to propose a hard surface, <br />precast structure with a stone finish. This <br />would be a long life building -50 to 100 <br />years. They felt it was important to anchor <br />the 2nd corner with another building. The <br />first building would be 2 stories with a <br />15,000 square foot footprint. The height <br />requirements of the tenant would push this <br />almost 36 feet high (equivalent to a 3 story <br />-17- <br />