Laserfiche WebLink
South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –November 2, 2010 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br /> (AEDA). Four of these properties were <br />added in an attempt to help Ivy Tech expand <br />its classroom, parking, and storage, in light <br />of the large increases in enrollment. <br />Additionally, on May 21, 2010, four more <br />properties targeted for Ivy Tech’s expansion <br />needs were added to the AEDA’s acquisition <br />list. These four properties were added in the <br />event agreement could not be reached with <br />the original four property owners. <br /> <br />Since these eight properties were added to <br />the acquisition list, the Habitat ReStore <br />property was acquired and donated to Ivy <br />Tech. During the past 15 months, ongoing <br />discussions have taken place with the other <br />property owners. After varying degrees of <br />these discussions starting and stopping, we <br />now have agreement with three property <br />owners along East Sample Street – Discount <br />Rental, Sinco Pools, and Enyart Electric <br />Motor Repair. These three important <br />properties are near Ivy Tech’s main campus. <br />The money for acquisition and relocation of <br />these properties is in the AEDA budget. <br /> <br />Mr. Relos noted that Ivy Tech has made an <br />investment of over $977,000 in this <br />immediate area on the renovation of the <br />ITOSS building (250 E. Sample), almost <br />$222,000 on the ITOSS parking lot, and they <br />expect to spend up to $400,000 on the former <br />Habitat ReStore property. We can expect a <br />similar level of investment in these three <br />properties, as Ivy Tech renovates them to fit <br />their needs. Acquisition of the three <br /> 17 <br /> <br />