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South Bend Redevelopment Commission <br />Regular Meeting - September 3, 1999 <br />6. NEW BUSINESS (CONT.) <br />b. continued... <br />Owen Rock, Economic Development <br />Specialist, presented the following staff <br />report to the Commission for its <br />consideration. <br />Crescent Michiana Properties proposes to <br />purchase and develop Parcel 4P in the <br />Blackthorn Corporate Park. The proposed <br />purchase price is $233,325 for the 5.49 <br />acres. The required 10 percent <br />performance guarantee totaling $23,332 <br />was submitted by Crescent Michiana <br />Properties. <br />Construction is expected to begin <br />November 1, 1999, and be completed by <br />August 2000. <br />Crescent Michiana Properties proposes to <br />construct a 46,100 sf facility. Crescent <br />Michiana Properties has not revealed its <br />client publicly but has revealed the client <br />to the Redevelopment staff. The facility <br />will be a mixture of office and support <br />office space. The tenant will occupy <br />35,000 sf of the building with 24,000 sf <br />for office use. Another 11,000 sf would be <br />used for warehousing. The remainder of <br />the building will be available for lease and <br />will give the proposed tenant room to <br />expand. The design of the building will <br />consist of modular structural steel frame, <br />prestressed colored concrete cladding and <br />areas of glass for a modern office -like <br />appearance similar to the Associate's <br />building. <br />c <br />