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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 />make a pro forma work for any developer. <br />Staff requests acceptance of his proposal, and <br />staff will continue to work with he and his <br />local partner, Mecca Companies, to refine <br />and bring forward a project that will <br />ultimately be successful. If the Commission <br />accepts this proposal, a formal option <br />agreement will be prepared and presented for <br />Commission approval at a subsequent <br />meeting. <br />Kyle Bach, Mecca Companies, explained that <br />Mecca Companies is a consultant to <br />developers wanting to do real estate projects <br />all over the country, with an emphasis on the <br />greater Michiana area. They have a <br />development arm, a brokerage arm, an <br />investment arm and are just getting involved <br />with some Web site endeavors. Their real <br />estate arm is responsible for $200,000,000 of <br />tax credit equity for qualified developments <br />across the U. S. They help with site selection, <br />financing preparation, entitlements and third <br />party coordination with architects, engineers, <br />community development staff, etc. <br />Gary Hassenflu noted that Garrison <br />Properties is a developer of multi-family and <br />mixed use developments in the Midwest and <br />Mountain states. They have done seventeen <br />projects in six states, over $100,000,000 in <br />asset value. They are interested in <br />developing the Hotel LaSalle. He showed a <br />PowerPoint of the various projects his <br />company has done. Mr. Hassenflu also <br />13 <br />