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South Bend Redevelopment Commission <br />Regular Meeting –January 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />D. Airport Economic Development Area <br /> <br />(3) continued… <br /> <br />not public. When it arrives and is <br />appropriated, the amount will be known. <br /> <br />CC <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE ONFIDENTIAL <br />SAR <br />ETTLEMENT GREEMENT AND ELEASE WITH <br />Ms. King and unanimously carried, the <br />CICTIG <br />ENTURY NDEMNITY OMPANY AND <br />Commission approved the Confidential <br />IC <br />NSURANCE OMPANY RELATED TO PROPERTY IN <br />Settlement Agreement and Release with <br />AEDA <br />THE IRPORT CONOMIC EVELOPMENT REA <br />Century Indemnity Company and TIG <br />Insurance Company related to property in the <br />Airport Economic Development Area. <br /> <br /> <br />(4) Resolution No. 2641 related to acquisition <br />of property in the Airport Economic <br />Development Area (1506 S Taylor) <br /> <br />Mr. Relos noted that 1506 S. Taylor St. was <br />added to the Airport Economic Development <br />Area Acquisition List by Resolution <br />No. 2596 on August 26, 2009. It was added <br />in an effort to clean and clear the southern <br />boundary of Ignition Park, and to help <br />stabilize the Rum Village neighborhood to <br />the south. The Rum Village Neighborhood <br />Association strongly supports the <br />redevelopment of this area on the north side <br />of Indiana Avenue. <br /> <br />This particular property is a one story, two <br />bedroom single family residence. The <br />property owner would like to participate in <br />the goals of the Commission in its efforts to <br />clean and clear this area, and contacted staff <br />with his interest in selling this property. <br /> <br />Resolution No. 2641 sets the acquisition <br />value of the property at $26,750, the average <br /> 29 <br /> <br />