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South Bend Redevelopment Commission <br />Regular Meeting -March 19, 2010 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(1) continued... <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously cai-~•ied, the <br />Commission approved Resolution No. 2661 <br />setting a public hearing for 10:00 a.m., <br />April 9, 2010, on the appropriation of tax <br />increment financing revenues from the South <br />Bend Central Development Area for the <br />payment of certain obligations and expenses <br />related to the South Bend Central <br />Development and other related matters. <br />(Century Center bond principle and interest <br />payment) <br />B. Airport Economic Development Area <br />(1) Staff report on outcome of tax sale <br />purchases. <br />Mr. Relos noted that the Commission <br />authorised the Board of Public Works to <br />purchase thirty parcels at the County <br />Commissioner's tax sale for an amount not to <br />exceed $250,000. Mr. Relos was happy to <br />report that all thirty parcels were purchased <br />for just under $42,000. Twenty-four of the <br />parcels are along Indiana Avenue. Those <br />parcels are in the process of being added to <br />the Airport Economic Development Area <br />List of Properties to Be Acquired, estimating <br />the cost of purchase to be $660,000. The <br />total spent to acquire these properties at tax <br />sale was less than $15,000 for a savings of <br />$645,000. <br />(2) Resolution No. 2633 related to acquisition <br />of property in the Airport Economic <br />Development Area. (531 W. Indiana) <br />4 <br />COMMISSION APPROVED RESOLUTION NO. 2661 <br />SETTING A PUBLIC' HEARING FOR 10:00 A.M.. <br />APRIL 9. 2010, ON THE APPROPRIATION OF TAX <br />INCREMENT FINANCING REVENUES FROM THE <br />SOUTI'I BEND CENTRAL DEVELOPMENT AREA <br />FOR THE PAYMENT OF CERTAIN OBLIGATIONS <br />AND EXPENSES RELATED TO THE SOUTH BEND <br />CENTRAL DEVELOPMENT AND OTHER RELATED <br />MATTERS. (CENTURY CENTER BOND PRINCIPLE <br />AND INTEREST PAYMENT <br />STAFF REPORT ON OUTCOME OF TAX SALE <br />PURCHASES <br />