Approving & Establishing an Economic Development Target Area (LaSalle Hotel)

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227 W. JEFFERSON BOULEVARD SUITE 1400 S. SOUTH BEND, IN 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR COMMUNITY INVESTMENT SCOTT FORD, EXECUTIVE DIRECTOR February 18, 2014 Mr. Oliver Davis, President South Bend Common Council 4a' Floor County -City Building South Bend, IN 46601 RE: Establishing an Economic Development Target Area LaSalle Hotel Dear President Davis: PHONE: 574/235 -9371 FAx:574/235 -9021 Attached for the Common Council's consideration is a proposed ordinance which approves and adopts a recommendation made by the South Bend Economic Development Commission establishing an Economic Development Target Area for the parcels known as the LaSalle Hotel. The property known as the LaSalle Hotel has been vacant for many years, with many investors having reviewed the LaSalle Hotel for investment and development purposes, and each having dismissed the LaSalle as not appropriate for investment and development. The South Bend Economic Development Commission, in furtherance of economic development within the City of South Bend, has investigated, studied and surveyed the need for additional job opportunities within the City and has made recommendations concerning economic development possibilities within the City. Based on its investigatory action, studies and surveys, the Commission has determined that it is necessary to designate the LaSalle Hotel as an Economic Development Target Area which will make the LaSalle Hotel a more attractive investment and facilitate the development and occupancy of the LaSalle Hotel. I will present this Ordinance to the Common Council. Thank you for your consideration. Sincerely 73�� Brock Zeeb PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ATIN KAIN PAMELA C. MEYER CHRIS FIELDING i �JO'rEri 4fOOR0� CI CLERK, SOUTH EJENID, IN I ECONOMIC RESOURCES DONALD E. INKS I a