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South Bend Redevelopment Commission <br />Regular Meeting — October 15, 2010 <br />6. NEW BUSINESS (CONT.) <br />D. Airport Economic Development Area <br />(15) continued... <br />The total scope of the project is $489,708.25. <br />Mr. Relos noted that work will begin yet this <br />fall but probably not be completed until <br />summer 2011. A dedication ceremony will <br />be held when everything is complete, <br />including the sculptural elements being <br />developed by Tuck Langland. <br />Upon a motion by Ms. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2790 <br />approving and authorizing the Execution of <br />an Addendum to the Master Agency <br />Agreement (Oliver Industrial Park <br />Improvements) <br />(16) Resolution No. 2791 approving the fair <br />market value of property in the AEDA <br />(1313 Prairie Ave.) <br />Mr. Relos noted that items 6.D.(16), (17), <br />and (18) are all related. He noted that the <br />Commission purchased 1313 Prairie Ave. in <br />order to prevent an incompatible use from <br />locating there. A willing buyer and seller <br />had made a purchase agreement. The buyer <br />was a towing company. Since the <br />Commission was relocating Hamilton <br />Towing from the east side of Ignition Park, it <br />didn't want a towing company to locate on <br />the west side. Staff found a suitable location <br />for the towing company and purchased 1313 <br />Prairie ourselves so as to not hurt the <br />property owner. There is now another <br />business with a compatible use interested in <br />the site. The Commission needs to go <br />28 <br />COMMISSION APPROVED RESOLUTION NO. 2790 <br />APPROVING AND AUTHORIZING THE EXECUTION <br />OF AN ADDENDUM TO THE MASTER AGENCY <br />AGREEMENT (OLIVER INDUSTRIAL PARK <br />IMPROVEMENTS) <br />