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South Bend Redevelopment Commission <br />Regular Meeting - November 5, 1999 <br />6. NEW BUSINESS (CONT.) <br />c. continued... <br />Mr. Best's total investment into the project <br />will be approximately 51.4 million. Weather <br />permitting, construction will commence <br />immediately after closing on the property. If <br />weather does not permit, then construction <br />will commence with the earliest possible <br />start date in the spring of 2000 building <br />season, likely late February 2000. The <br />project will be completed and opened for <br />business within 120 days after construction <br />begins. <br />The landscaping and signage will conform <br />to the requirements as set out in the <br />Studebaker Corridor Design Guidelines. <br />The interior of the restaurant will contain <br />memorabilia and photos, as they become <br />available, tied to the historical theme of the <br />Studebaker automobile and other <br />Studebaker products. <br />After completion of the facility, it will be <br />leased to Best Beef, Inc., wholly owned by <br />Richard L. Best and his wife, and the <br />operating entity for Mr. Best's franchised <br />Arby's Roast Beef Restaurant. The rent will <br />be approximately $11, 500 per month. <br />There will be no tax abatements requested in <br />conjunction with this development. Richard <br />Best will ensure that there will be no sale or <br />dispensing of alcoholic beverages on this <br />site. Mr. Best does not sell or dispose of <br />alcoholic beverages at any of his facilities. <br />-7- <br />