Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting -June 6, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(3) continued... <br />and interested developers over time and in <br />the process we have learned a great deal <br />about the constraints presented by the <br />building itself and present market conditions <br />that make its redevelopment a particular <br />challenge. <br />The Commission has expressed its <br />commitment to address these challenges, and <br />we have discussed in particular the need for a <br />parking garage adjacent to the building to <br />serve both the Morris and Palais as well as <br />the hotel property. We realize we cannot do <br />so without an identified project and <br />committed development partner. Likewise, <br />the nature of historic preservation and the <br />many associated unknowns that drive costs <br />has not allowed the disposition structure we <br />have used in the past to work for the benefit <br />of the developer seeking to minimize risk. <br />I would like to introduce Garrison Hassenflu <br />of Garrison Properties, out of Kansas City, <br />Missouri. He is proposing today to purchase <br />an option on the building, affording him the <br />chance to perform more extensive due <br />diligence while allowing the Commission <br />and staff to learn more about the potential <br />roadblocks and opportunities presented by <br />the physical structure of the building for an <br />adaptive reuse project. His idea is to advance <br />a project due diligence phase quickly and <br />with regular reports to the Commission, thus <br />we would know within three to six months <br />whether a project can go forward, or if not, <br />then what else must be done on our end to <br />12 <br />