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South Bend Redevelopment Commission <br />Regular Meeting –May 21, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />E. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />Mr. Vitton noted that the Commission <br />approved the sale of 701 Pennsylvania <br />Avenue to Mr. John Morris who will <br />complete the rehab and live in the home. Mr. <br />Morris has experience and the tools to <br />complete the project. This is the Purchase <br />Agreement that outlines the improvements <br />Mr. Morris agreeds to make to the house and <br />gives him a period of two years to complete <br />them. Mr. Inks noted that the two years to <br />complete is a change from the eighteen <br />months to complete that was on Exhibit B of <br />the document distributed in the <br />Commissioners’ packets. <br /> <br />Mr. Inks noted that this is not the <br />Commission’s standard purchase contract. <br />Typically the Commission includes <br />reversionary clauses in those contracts. The <br />Commission has tried to sell this property for <br />a long time, including putting a lot of effort <br />and money into preparing it for sale. We do <br />not want to own it again for any reason. <br /> <br />CRE <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE EAL STATE <br />PRA <br />URCHASE AND EHABILITATION GREEMENT <br />Ms. King and unanimously carried, the <br />701PA. <br />FOR ENNSYLVANIA VE AS <br />Commission approved the Real Estate <br />(WH) <br />AMENDEDENGER OMESTEAD <br />Purchase and Rehabilitation Agreement for <br />701 Pennsylvania Ave., as amended (Wenger <br />Homestead) <br /> <br /> <br />(2) Resolution No. 2688 amending the <br />Development Plan for the Airport <br />Economic Development Area and adding <br />one or more parcels to the List of Parcels <br />to be Acquired. (portion of 921 N. Bendix) <br /> 11 <br /> <br />