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South Bend Redevelopment Commission <br />Regular Meeting - December 19, 1997 <br />6. NEW BUSINESS (CONT.) <br />r. continued.... <br />market A through C and we do that in <br />January. We took a preliminary look at it <br />and will have a final report for you. But <br />Class A office space looks like the <br />vacancy rate is probably coming in at a 95 <br />to 96 percent occupancy rate which is <br />very, very good. As the Leighton Plaza <br />project comes on, and assuming that <br />nobody leases that, it will add additional <br />space and bring the occupancy rate down <br />to approximately 90 percent and these are <br />preliminary numbers and we will have a <br />better sense for you pretty soon. <br />That is the existing conditions as we see it <br />on the immediate site and the surrounding <br />area and as it relates to the downtown <br />development plan. What is the staff <br />recommendation? The staff is <br />recommending the following: that the <br />existing conditions on the site do not, in <br />fact, re- enforce or compliment or support <br />in any manner, the long -term plans for the <br />high density core area of the downtown <br />plan; in considering that then, the next step <br />would be to propose, for your <br />consideration, a development concept <br />which we think makes sense in enhancing <br />and carrying forward the Redevelopment <br />Plan for the downtown, and again, <br />especially the core area of the downtown <br />Plan. <br />ANNE BRUNEEL: Jon, I'm sorry to stop <br />you, but at this point, the Plan, just for the <br />record if you could clarify, is the 1985 <br />F:\ HOME\ CPHIPPS \WPDATA \COMMSN\121997.MIN -31- <br />