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South Bend Redevelopment Commission <br /> Regular Meeting—April 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> D. Airport Economic Development Area <br /> (1) continued... <br /> • $181,000 to acquire and refashion the <br /> new location on State Road 2 just <br /> west of town (the old Jeep Acres <br /> property). <br /> Staff feels the total acquisition, relocation, <br /> and moving costs of$350,000 for this <br /> property is reasonable, and requests approval <br /> of Resolution No. 2872 and relocation <br /> expenses of$246,000, to allow for the <br /> acquisition and relocation of this property. <br /> Mr. Downes asked if the house was occupied <br /> now. Mr. Relos responded that it is. Mr. <br /> Downes asked if it is a rental. Mr. Relos <br /> responded that it is a rental. <br /> Mr. Varner questioned whether acquisition of <br /> this property is critical right now to justify <br /> the expenditure of$350,000. Mr. Relos <br /> responded that it has quite a long frontage on <br /> Prairie, a gateway to Ignition Park. It will be <br /> useful in the development of Ignition Park. <br /> Mr. Varner wondered if the large relocation <br /> cost is reasonable. Mr. Relos responded that <br /> businesses typically have much higher <br /> relocation costs than residences. The <br /> calculation of relocation costs is based on <br /> government guidelines. <br /> Mr. Gibney added that that area along Prairie <br /> will be an important western edge of Ignition <br /> Park. We will eventually want to acquire it. <br /> Since Prairie Salvage wants to sell now, he <br /> believes it is prudent to purchase it now. <br /> 13 <br />