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South Bend Redevelopment Commission <br />Regular Meeting –February 19, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. Airport Economic Development Area <br /> <br />(2) continued… <br /> <br />to minimize the amount of property to <br />acquire, but there could be as many as four <br />parcels that are needed, depending on the <br />negotiations with the current property <br />owners. <br /> <br />As part of its contract with city for design <br />services, DLZ will coordinate and serve as <br />the acquisition agent for this project. The <br />intent is to acquire the property now and hold <br />the property until the city is ready to <br />construct. The property owners understand <br />that this project is in the planning process <br />and wonder what impact it will have for <br />them. Moving ahead with the acquisitions <br />will remove the uncertainty for the owners <br />and secure ownership of the right-of-way for <br />when we are ready to do the construction. <br /> <br />A full listing of properties, appraised values <br />for the properties and a map are included as <br />Exhibit A to the Addendum to Master <br />Agency Agreement. The total average <br />appraised value for the right-of-way <br />acquisitions is $468,387.50. Staff requests a <br />not-to-exceed budget of $750,000.00. <br /> <br />CRN.2652 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />APPROVING AND AUTHORIZING THE EXECUTION <br />Ms. King and unanimously carried, the <br />AMA <br />OF AN DDENDUM TO THE ASTER GENCY <br />Commission approved Resolution No. 2652 <br />A(ORR--W <br />GREEMENT LIVE OAD IGHTOFAY <br />approving and authorizing the execution of <br />A) <br />CQUISITION AND AUTHORIZED A BUDGET FOR <br />an Addendum to the Master Agency <br />$750,000 <br />THE ACQUISITIONS NOT TO EXCEED <br />Agreement (Olive Road Right-of-Way <br />Acquisition) and authorized a budget for the <br />acquisitions not to exceed $750,000. <br /> <br /> 15 <br /> <br />