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South Bend Redevelopment Commission <br />Regular Meeting - September 1, 1995 <br />6. NEW BUSINESS (Cont.) <br />C. Staff report on disposition of land in the <br />South Bend Central Development Area. <br />Mr. Eddington gave the staff report on the <br />project. Mr. and Mrs. Zeyen propose to <br />develop the former Dreisbach building as a <br />commercial office development. The project <br />would be completed in two phases: phase <br />one would be to develop the majority of the <br />space on the first level, approximately <br />20,000 square feet; phase two encompasses <br />the remaining 10,000 square feet of the first <br />level. Construction will begin in early <br />October with completion of phase one by <br />June 1996. Construction of phase two <br />would begin in July 1996 and be completed <br />by September 1996. <br />Mr. Eddington noted that the ZeyeWs have <br />offered $50,000 for the site. They are in <br />the process of lining up tenants for the <br />building. <br />Mr. Zeyen noted that their proposal also <br />includes the cost of environmental clean-up <br />documented in the Phase II environmental <br />study. The ZeyeWs will pay for the <br />Phase II environmental study and any <br />environmental cleanup that may be <br />necessary. <br />Mr. Faccenda noted that, according to the <br />provisions under which the Commission <br />acquired the Dreisbach property by <br />donation, the Commission cannot sell the <br />property until 1996. <br />-7- <br />