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South Bend Redevelopment Commission <br />Regular Meeting –October 15, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />D. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />follows: We think it’s going to cost <br />$100,000 to clean it out and stabilize it. It <br />would cost at least $176,000 to tear it down. <br />We think it’s going to cost $460,000 if <br />someone wants to use it. <br /> <br />Mr. Downes asked if we find a use for it and <br />have to spend $459,000 to rehab it, would the <br />$459,000 be reduced by some of the $75,000 <br />already spent? Mr. Inks responded that it <br />would. The roof repairs may be wasted if we <br />do an entire roof replacement, but cleaning <br />up the site would have to be done either way. <br /> <br />Mr. Varner would like staff to talk further <br />with the potential user to better determine the <br />level of their interest. He would prefer to <br />postpone a decision until we are fairly certain <br />the user’s interest is strong. He would hate <br />to put the money into stabilizing the building, <br />only to demolish it later because the potential <br />user was only making an inquiry. Mr. Relos <br />responded that Mr. Schalliol has been <br />discussing potential reuse with the business <br />and feels that these repairs would help the <br />business move forward. It’s hard to envision <br />reuse of the building in the condition it is in. <br /> <br />Mr. Varner said he doesn’t believe anyone <br />would pay $459,000 to reuse the building, <br />even if it is cosmetically improved. He <br />suggested cutting a deal with the user before <br />spending the money. He recommended <br />tabling the item until we know more. <br /> <br /> <br /> 18 <br /> <br />