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SBCC DEVELOPMENT CORP. CURRENT STRUCTURE Jay Harwood and Mark Tamer founded the SBCC DEVELOPMENT CORP. Jay and Mark formed this company to develop the Gridiron Row building in downtown South Bend. They also own the South Bend Chocolate Company. Jay is currently employed by Rose Fuel and Materials, a masonry supply company located just off the East Race, and will be running the Development Corp. full-time by the end of the year. Brad Toothaker of CB Richard Ellis, has recently joined the SBCC's Board of Directors as an investor. His knowledge of the downtown rental and real estate markets will be valuable to the success of the company. The Corporation was founded with the intent to develop buildings for the South Bend Chocolate Company. Mark had a plan to start a'Chocolate Cafe' but had not found a suitable location. Finally we came across what is now known as the 'Gridiron Row' building. With the help of the Chocolate Company as our first renter, this building became very viable to renovate and lease to other tenants. With the Chocolate Company already leasing, we found that other tenants were anxious to rent space. GRIDIRON ROW BUILDING Introduction: The Gridiron Row building at 121 S. Michigan St., located in downtown South Bend next to the College Football Hall of Fame. The SBCC has renovated this building over the last two years and has a lease from the city with an option to buy in twenty years. There is almost 10,000 sq ft. of lease able space in the building, and is 100% occupied. There is a loan with St. Joe Capital Bank for $390,000 that will be paid off in thirteen years. PLAN FOR RENOVATION AND EXPANSION OF THE COMMERCE CENTER Introduction: The Commerce Center (CC) is a commercial building located in the East Bank in South Bend's downtown at 401 E Colfax. The building is a renovated 83,305 sq. ft. power plant. The CC has lost two major tenants and the owners, Capozzoli Advisory for Pensions appear ready to sell. Our plan is to buy the CC, renovate it, repackage it, and build on space for a new restaurant and cafe. There is also a plan for a second phase of the project that consists of the construction of a new office /retail building and a master plan for the East Race. Our feeling is that the building has great value, but not in its current condition. The building needs better marketing and a different tenant mix. Furthermore, the building does not fully embrace the East Bank nor draw people to it. The East Bank area has for years been a key development for the City. But it is time for a face -lift. Our marketing,