10-09-89 Human Resources & Economic Development

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Human Resources and Economic Development Committee October 9, 1989 Page 2 It was also noted that $15, 000 of the appropriation would be for the South Bend Central Development Area for public improvements for the extension of Seitz Park which would include off-street parking, lighting, and landscape improvements. Council Member Soderberg voiced concern in light of the fact that $112, 000 for the Seitz Park improvements were originally proposed. Mr. John Boyer spoke against the proposed appropriation of $335, 000 for the Opelika Building. He noted that he acquired the building in 1983 and desired to do a residential and retail combined use within it. He noted that he has paid for over 80 pages of blueprints and had 5 presold condominiums sold, however needed two additional sales for the project to begin, or a loan of $300, 000. He was unable to receive financing. Mr. Boyer then noted the various innovative ideas he has utilized with regard to the Mole Hole. He also noted that 60 parking spaces would be involved and that there are two buildings in the Opelika .Building. The southern one would be demolished, and by the fall of 1990 he would be moving his current location to that facility. Council Member Voorde questioned the plans for the second and third floor. He was advised that it would depend on the market place. He was also advised that the concept of residential use was not a "dead issue". He noted that there are 18, 000 square feet on each floor. Council Member Coleman noted that as a member of the East Race Waterway Commission that the building in question is a key location. He voiced support of development in a timely manner. Council Member Puzzello inquired with regard to Mr. Boyer's immediate plans. Ann Kolata noted that the Mole Hole is a wonderful asset, however, there must be a financial proposal to go forward to considering "gap financing. " There is continuing concern over the timetables involved as well as the funding available. She stated that the type of proposed use is proper but that Code Enforcement has noted continuing deteriorating conditions. Council Member Coleman noted that the building was placed on the acquisition list by the City several months ago, and it should have been a signal to move ahead on the project.