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South Bend Redevelopment Commission <br />Regular Meeting –March 5, 2010 <br /> <br />6. NEW BUSINESS <br /> <br />A. Public Hearing <br /> <br />(2) continued… <br /> <br />CRN.2651 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />APPROPRIATING TAX INCREMENT FINANCING <br />Mr. Varner and unanimously carried, the <br />AE <br />REVENUES FROM THE IRPORT CONOMIC <br />Commission approved Resolution No. 2651 <br />D/UEZ <br />EVELOPMENTRBAN NTERPRISE ONE <br />appropriating tax increment financing <br />SZF <br />PECIAL ONE UND FOR THE PAYMENT OF <br />revenues from the Airport Economic <br />CERTAIN OBLIGATIONS AND EXPENSES RELATED <br />AED <br />Development/Urban Enterprise Zone Special <br />TO THE IRPORT CONOMIC EVELOPMENT <br />AUEZ <br />REA AND THE RBAN NTERPRISE ONE <br />Zone Fund for the payment of certain <br />obligations and expenses related to the <br />Airport Economic Development Area and the <br />Urban Enterprise Zone. <br /> <br /> <br />B. Tax Abatements <br /> <br /> <br />(1) Resolution No. 2660 approving an <br />application for real property tax deduction <br />for property located at lots 14 & 15 on <br />Vorden Parkway adjacent to 3751 Olive <br />Rd. (Olive Cleveland Partners) <br /> <br />Mr. Mathia gave the staff report on the <br />project. Olive Cleveland Partners is in the <br />process of purchasing vacant Lots No. 14 and <br />15 from the Blackthorn West Business Park, <br />LLC. Olive Cleveland intends to construct a <br />warehouse/distribution facility to <br />accommodate the relocation and expansion <br />of an existing tenant, Invacare Corporation. <br />The new building will have a total of <br />approximately 80,000 square feet, and will <br />feature 32 feet clear height, 15 docks, grade <br />level access and approximately 5,000 square <br />feet of office space. The building will <br />incorporate energy efficient heating and <br />lighting. The estimated cost of the building <br />is $2,400,000. <br /> <br /> 22 <br /> <br />