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Mr . Brademas: We received a letter from Stevens, Inc. which <br /> reads: Dear Mr . Brademas, we have reviewed your proposal for the <br /> acquisition and rennovation of the Odd Fellows Building located <br /> in downtown South Bend, Indiana and feel it is a sound and well <br /> thought of program. We wish to advise you of our interest in <br /> purchasing tax free revenue bonds issued by the South Bend Economic <br /> Development Commission in the amount of two million five hundred <br /> dollars, to provide you with the necessary dollars to rennovate <br /> the Odd Fellows Building subject to the following agreements. <br /> Obviously, you have to have a bond purchase agreement, and the <br /> attorneys have to agree to it and the financing will be negotiated <br /> at a later date. We were unable to tell them at that time when <br /> the Redevelopment Commission would give us a decision. I believe <br /> Mr . Chairman, ladies and gentleman that is why we are here today. <br /> I have said publically before and I will say it again, I have <br /> nothing but the highest regard for Mr. Nimtz, and the members of <br /> the Redevelopment Commission and the staff, and we don' t want to <br /> get into any acromonious debate with them. My concern is that as <br /> an interested developer I believe I presented to the Redevelopment <br /> Commission a plan that was fully supported and fully feasible and <br /> the Redevelopment Commission nor their staff has been unable or <br /> unwilling to this date to give me any factual reason as to why <br /> they rejected my plan, other than to say that they didn' t believe <br /> it was feasible. I have spoken to Mr . McMahon and Mr . Horton <br /> that while I know they are both young and able men that I asked <br /> them right out have you ever acquired an old building such as <br /> this, and have you ever worked out the engineering and architectural <br /> aspects of it? Have you ever set up the financing, have you ever <br /> rehabilitated it and ever then managed it? <br /> Mr. McMahon: I don' t ever want to break up your train of thought. <br /> Mayor Parent: Are we here to test the integrity of Mr. McMahon <br /> and Mr. Horton. He should keep his line of questioning on his <br /> proposal . <br /> Mr. Voorde: I concur. What I would like to do is that if in <br /> fact you have made this presentation to the Redevelopment Commission. . . <br /> Mr. Brademas: They may not have felt that I have. <br /> Mr. Voorde: What are you requesting at this point, in light of <br /> the fact that the Commission is going to be accepting bids this <br /> coming Friday? <br /> Mr . Brademas: I am requesting from the Redevelopment Commission <br /> that they give me some rational reason as to why they rejected my <br /> proposal , supported by something other than. .well , we don' t feel <br /> it had merit. Especially in light of one thing, with all due <br /> respect to Ann Kolata, and I noted in the paper that Mr . McMahon <br /> took issue with me and said that he was physically upset with me <br /> when he said I had repeatedly said that the reason the Redevelopment <br /> Commisison wanted to tear the Odd Fellows Building down was to do <br /> a favor to the First Source people so that there would not be any <br /> competition. I have never said that. I said that a senior member <br /> of the Redevelopment Staff said that, and I took issue with that. <br /> As a matter of fact, when that was said, I immediately called the <br /> Director of the Redevelopment Commission, Carl Ellison, and <br /> asked him what was going on and said it was not a function of the <br /> Redevelopment Commission. He said, oh, Ann did not mean to say <br /> that. Mrs. Kolata also said that the staff felt the building, if <br /> rehabilitated, would be competing with other office building if <br /> rehabilitated today, such as the GSA building to be constructed <br /> nearby, the new First Bank building to be constructed in the <br />