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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 />Bergeman, partners in the Eco-Urban <br />Collaborative, have submitted a proposal for <br />development of the Rink Riverside site. <br />They have been provided a list of questions <br />the Commission has concerning their <br />proposal and have prepared a written <br />response to those questions which will be <br />transcribed into the minutes of this meeting. <br />Also, Commissioners may ask for additional <br />clarification or ask additional questions at <br />this time. <br />1. Purchase Price offered by Applicant <br />a. Your proposal states "It is in order to <br />make the project financially viable that we <br />are offering a bid of $ l ... as well as <br />requesting other assistance." <br />Does this mean that Eco-Urban <br />Collaborative is not willing and able to <br />proceed with the proposal unless the city <br />agrees to (i) sell the Site for $1 and <br />(ii) provide at no cost all the items listed <br />under "Participation by City of South <br />Bend?" <br />Written Answer: Eco-Urban <br />Collaborative is able to proceed, but may <br />not be willing. Eco-Urban has offered $1 <br />because it does not believe that the current <br />market for residential, commercial, and <br />retail properties is strong enough to <br />support sale prices or rental rates that <br />would allow it to complete the project <br />8 <br />