Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—February 14, 2013 <br /> 6. NEW BUSINESS <br /> A. South Bend Central Development Area <br /> (3) continued... <br /> • Bend market area); and <br /> • How many newly-created dwelling units can be leased or sold within the Downtown <br /> over the next five years (absorption forecasts). <br /> Staff requests approval of the proposal in the amount of$38,000 from the SBCDA TIF. <br /> Mr. Downes asked if there had ever been a downtown residential study done for the City of <br /> South Bend, and if so, how long ago. Mr. Kain responded that he didn't believe we've ever <br /> done a market analysis for downtown. Through Buxton, we've studied the retail potential <br /> for downtown. We asked Buxton if they could expand their study and add residential, but <br /> they cannot. Mr. Inks responded that the last study that was done near the downtown area <br /> was for the West Washington area approximately 10-15 years ago. There is nothing current. <br /> Mr. Varner and Mr. Davis asked if there was any possibility that some of the local <br /> developers would be willing to participate in the cost of this study. They would benefit from <br /> it. A study like this will be out of date quickly. It would be nice if there were some other <br /> support. Mr. Kain responded that the study looks at a five-year forecast. If economic <br /> conditions change in the next few years, the study will have to be updated. As we talked to <br /> the developers, they have asked the City of South Bend to pay for this. It is the city that <br /> wants to encourage more residential development in the downtown. The study will become <br /> a catalyst for development interest downtown. <br /> Mr. Davis asked what the boundaries would be for this study. Mr. Kain responded that there <br /> are typically two boundaries for downtown. The downtown that is being referenced in the <br /> proposal is the CBD District, which is the zoning district and also mirrors the South Bend <br /> Central Development Area. <br /> Mr. Davis also said that the trend of people moving back into the inner city is a well- <br /> established trend. He fears South Bend is on the late end of the trend and housing that is <br /> built here will soon be abandoned. Mr. Kain responded that the study will consider the <br /> national trend. He believes the things Mr. Davis is concerned about will be clarified by the <br /> study. <br /> Mr. Alford noted that the study will be completed over a four month period. He asked how <br /> they will be paid. Mr. Kain responded that they will be paid based on deliverables. When <br /> Zimmerman/Volk Associates, Inc. completes a task they will be paid. Mr. Alford asked <br /> whether the final payment will be made after their presentation. Mr. Kain responded that it <br /> will. <br /> 6 <br />