HomeMy WebLinkAboutApproving the intention of the Mayor, acting through the Department of Redevelopment, to enter into an agreement with the American City CorporationRESOLUTION
N0. 659 -78
Passed by the Common Council of the City of South Bend, Indiana
November 6 19 78
^-�-� r~� City Attest: .- Y Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
November 7 19 78
Approved and signed by me
City Clerk
Mayor
RESOLUTION NO. G S09 • 9
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF
SOUTH BEND APPROVING THE INTENTION OF THE MAYOR,
ACTING THROUGH THE DEPARTMENT OF REDEVELOPMENT,
TO ENTER INTO AN AGREEMENT WITH THE AMERICAN CITY
CORPORATION FOR THE PURPOSE OF PERFORMING A MARKET
STUDY IN CONJUNCTION WITH THE CENTURY MALL PROJECT
WHEREAS, the Common Council of the City of South Bend recognizes
the importance of achieving the highest and best use of land located within
the Central Business District; and,
WHEREAS, the Common Council has previously articulated its support
of an urban renewal project known locally as "Century Mall;" and,
WHEREAS, the Common Council recognizes and agrees there exists a
need to perform a market analysis in connection with the Century Mall
Project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City
of South Bend that:
SECTION I. The intention of the Mayor, acting through the
Department of Redevelopment, to enter into an agreement with the American
City Corporation for the purpose of performing a market study in connection
with the Century Mall Project is hereby approved.
SECTION II. The intention of the St. Joseph Bank and Trust Company
to fund one -half of the cost of the market study is hereby recognized and
commended as this action represents yet another example of the formation of
a creative public sector /private sector partnership which will greatly
benefit the citizens of our community.
SECTION III. This
from and after its passage by
Mayor.
PRESENTED /) -C. - �),R
NOT APPROVED
ADOPTED , / - & - > f/
resolution shall be in full force and effect
the Common Council and its approval by the
6 � - Z-
-P" Lit� a-e�
Member o6rthe Common Council
RI signed only to provide an
opportunity _ _ lic �__ ,ion
and Council acticn on the issue.
FILED IN CLERY S OFFICE
NOv 11978
Irene Gammo,
CITY CLERK, SOUTH MEND, ENO.
OFFICE OF THE MAYOR
CITY of SOUTH BEND
PETER J. NEMETH, Mayor
COUNTY -CITY BUILDING SOUTH BEND. INDIANA 46601
M E M O R A N D U M
TO: Members of the Common Counci
FROM: Mayor Peter J. Nemeth
SUBJECT: Century Mall Market Study
DATE: November 1, 1978
AREA 219 284 - 9261
The purpose of the attached resolution is to secure your concurrence
with my intention of entering into an agreement with the American City
Corporation, a subsidiary of the James Rouse Company, to perform a market
Study in connection with the Century Mall Project.
Documents to be prepared and submitted by the American City Corporation
to the principals during the course of work shall include the following:
1. Market Analysis Report
2. Retail Center Concept with Development Objectives
3. Preliminary Development Arithmetic with Estimates
of Public and Private Investments Required
The report to be prepared within a four to six month period will cost
$75,000 with an additional reimbursable fee not to exceed 10% ($7,500) of
the basic fee. The St. Joseph Bank & Trust Company has agreed to fund
one -half the cost of the project.
Depending upon the results of the study, it will be decided by the city,
St. Joseph Bank & Trust Company and The Rouse Company as to whether it is
desirable and feasible to proceed with further services by The Rouse Company
and whether The Rouse Company might be interested in the actual development
process.
I believe this study is essential to further progress downtown. Thus,
your support of this resolution is asked.
jmr