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Mayor Announces Four Downtown Development Opportunities Page 2 of 3 <br /> enter into a timely and binding development agreement that clearly outlines all aspects of the project in <br /> mutually agreed upon terms. <br /> From a design and planning perspective, the expectation is for proposed land uses and site plans that <br /> demonstrate engagement with the surrounding environment, both built and natural, and projects that add <br /> vitality to the street and act as successful catalysts for other development to occur. In fairness to all <br /> taxpayers and investors alike, the Commission will demand at the outset more precise pro formas. This will <br /> help determine what, if any, gaps exist in the financial viability of any single project before committing the <br /> assistance of scarce TIF resources or other incentives at their disposal. These Requests for Proposals <br /> represent a bold marketing of the City's assets, in order to seek out developers who are positive about their <br /> own abilities as well as the ability of our market to perform. <br /> Downtown Development Opportunities <br /> Requests for Proposals <br /> RFP'S will be available for download directly from the City's website, http://www.ci.south-bend.in.us/, "City <br /> Public Bids." <br /> HOTEL LASALLE <br /> With breathtaking views of the St. Joseph River from its top east-facing floors, the Hotel <br /> LaSalle is an inspiring example of Georgian Revival architecture and a notable reminder of <br /> South Bend's gilded age of industrial wealth. The Redevelopment Commission seeks qualified <br /> and interested developers to submit proposals for adaptive re-use of the building for <br /> multifamily residential development, either condominiums or apartments, or restoration of the <br /> building to its original use as a high-caliber boutique hotel. The Commission encourages <br /> proposals for the rehabilitation of the building that offer specialized expertise in historic <br /> preservation and that take advantage of the combined available tax credits to make a project <br /> work economically. <br /> Conforming uses: Rehabilitated for use as a hotel, conversion to market rate apartments or <br /> condominiums, or some combination of these, with ground floor and mezzanine area use for <br /> retail, restaurant or entertainment. <br /> Size: Nine stories,107,000 sq ft. <br /> Sale Price: $400,500 <br /> Additional info:Adjacent paved parking for 63 vehicles included. <br /> Air Rights over Parking Garage& Retail Facility at St.Joseph &Jefferson <br /> The offering of air rights for development atop the proposed St. Joseph & Jefferson Street <br /> Parking Garage & Retail Facility is a uniquely attractive development opportunity on a key site <br /> in downtown South Bend. To replace the garage that once stood on the site,the City <br /> intends to build a 5 to 7 story parking garage with prime retail space on the ground level. The <br /> RFP opens the door to creative projects of all varieties to take advantage of the air rights <br /> above the structure, to benefit from some dedicated parking and the significant expense of <br /> foundation work removed from project costs. If no suitable project emerges, the Commission <br /> intends to construct the garage and retail space as budgeted and scheduled. <br /> Conforming uses: Commercial office, multifamily residential, entertainment or hotel. <br /> Size: 22,000 sq ft footprint, limited by zoning to height of 12 stories total. <br /> Air Rights Sale Price: $162,500 <br /> Osco's Drug <br /> http://www.ci.south-bend.in.us/Press/Releases 2005/101905 development.htm 1/13/2006 <br />