2 Minutes 08-15-13 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting — Thursday, August 15, 2013 6. NEW BUSINESS A. South Bend Central Development Area (1) continued... there was no change being made to them. Mr. Dressel noted that the entire Development Plan can be found on the City of South Bend's website. Mr. Vamer noted that it's all well and good to write a plan, but the reality is that development of property will be based on the market. Mr. Ford responded that this amendment expands the possibilities for development specifically because there is another part of the market that we hope to tap. This adds more flexibility. Mr. Bill Hollingsworth, Equal Development, noted that he is proposing to put the historic Hoffman Hotel, which is most commonly known as the North Western Mutual Building, into 45 -50 unit of affordable artist housing. The first floor will have a retail look, but will contain the leasing office, maintenance office, a small gallery, a soundproof music room for practicing, and a dark room. The 12`h floor has a wonderful view of both Notre Dame and the river walk. He intends to make that a studio. Mr. Downes asked if the billboard next to the hotel will be removed. Mr. Hollingsworth responded that the billboard on the south side of the building will be removed, but the billboard on the west side of the building has an historic, trendy look and will be kept. Mr. Hollingsworth noted that he intends to put $4M - $6M into the project. Mr. Wruble asked how this development will affect the LaSalle Hotel. Mr. Hollingsworth responded that it should complement the hotel. Artist housing is often a catalyst for other types of residential and will also drive retail to the LaSalle St. area. Ms. Schey asked for a brief explanation of how "artist" will be defined. Mr. Hollingsworth responded that in 2008 the United States President allowed, within fair housing, to have restrictive housing to artists. An Artist is defined by broad categories such as culinary artists to painters to photographers to anything that is an artistic endeavor. The limitations must be defined upfront as a part of their leasing strategy to avoid fair housing issues. Ms. Schey asked if there were certain income parameters as well. Mr. Hollingsworth responded that residents living there will have to make less than 60% of the area median income based on family size. Mr. Wruble asked what the dollar amount of the 60% median is. Mr. Hollingsworth responded that it changes every year; currently it is about $40,000 for a family of four. Mr. Varner asked if Mr. Hollingsworth might consider an agreement with the Morris Performing Arts Center for a certain number of rooms on ND football weekends because the Morris isn't able to book certain events those weekends because of the lack of hotel space.