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South Bend Redevelopment Commission <br /> Regular Meeting—February 14, 2013 <br /> 6. NEW BUSINESS <br /> A. South Bend Central Development Area <br /> (2) continued... <br /> Mr. Varner asked if this proposal adds any new furniture or repairs or replaces the existing. <br /> Mr. Relos responded that it's just for repair and replace. <br /> Mr. Downes noted that the staff memo referenced establishment of a fixed annual lifecycle <br /> renewal fund for repair and replacement of the furniture. Then, instead of having to <br /> approach the Redevelopment Commission from time to time to ask separately for funds, the <br /> Commission could approve it once a year during the budget process. Mr. Inks agreed that <br /> DTSB will review the furniture on an annual basis and identify what will need to be repaird <br /> and replaced. <br /> Upon a motion by Mr. Downs, seconded by Mr. Alford, and unanimously carried, the <br /> Commission approved the proposal for furniture repair or placement in the downtown DTSB <br /> area as listed. <br /> (3) Proposal of Residential Market Potential for downtown South Bend. <br /> Mr. Kain noted that staff solicited a proposal from ZimmermanNolk Associates, Inc. for <br /> conducting a study of residential market potential in downtown South Bend. <br /> ZimmermanNolk Associates, Inc. is a nationally known expert, specializing in the analysis <br /> of compact and sustainable development; mixed-income, mixed-tenure redevelopment; <br /> mixed-use urban revitalization; traditional neighborhood developments; and integrated-use <br /> master-planned communities. <br /> Over the last two years, downtown South Bend has seen some exciting new residential <br /> development with potential for additional development in coming years. As the city <br /> continues its efforts to encourage more residential development in downtown, many in the <br /> development community have asked for a market analysis of the demand and capacity for <br /> downtown residential. <br /> The scope of services for this analysis includes determining: <br /> • Where the potential renters and buyers of newly-created housing units in Downtown <br /> South Bend are likely to move from(the draw areas); <br /> • Who currently lives in the draw areas and what they are like (the target markets); <br /> • How many are likely to move to the Downtown if appropriate housing units were to be <br /> made available (depth and breadth of the market); <br /> • What their housing preferences are in aggregate (rental or ownership, multi-family or <br /> single-family); <br /> • What are they currently willing to pay to rent or purchase newly-created dwelling units <br /> within the Downtown; <br /> • What their alternatives are (new construction or existing housing stock in the South <br /> 5 <br />