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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -March 10, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(} continued... <br />Preliminary Project Schedule <br />Phase I <br />Market and Pre-sell remaining three (3) story units 3 - 6 months <br />Continue to Develop Final Site Plan with City 1 month <br />Develop Project Financing Ongoing <br />Continue to Develop Architectural Plans 4 - 6 months <br />Bid Project 1 month <br />Finalize Project Financing /Closing 1 month <br />Start Construction 8 months <br />b} Please provide a timeline for the major <br />development actions described as "Phase <br />II" in your proposal. <br />Phase II <br />Market and Pre-sell Retail and Loft Units 3 - 6 months <br />Develop Project Financing Ongoing <br />Continue to Develop Architectural Plans 4 - 6 months <br />Bid Project 1 month <br />Finalize Project Financing /Closing 1 month <br />Start Construction 8 -12 months <br />Mr. Bergeman mentioned, again, that <br />Phase II maybe completed at the same <br />time as Phase I. They would need to be <br />50%pre-leased. Part of the consideration <br />when they try to negotiate is whether Eco- <br />Urbancontrols the land. Residentially, <br />there's tremendous interest in the 18 units. <br />There could be more than 18 units if some <br />are made smaller to accommodate single, <br />young professionals interested in <br />purchasing 500 sft. Discussions with the <br />Chamber of Commerce revealed that other <br />26 <br />