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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 /> (4) continued... <br /> Upon a motion by Mr. Downes, seconded by COMMISSION AUTHORIZED THE EXPENDITURE OF <br /> Mr. Alford and unanimously carried, the AIRPORT ECONOMIC DEVELOPMENT AREA TAX <br /> Commission authorized the expenditure of INCREMENT FINANCING FUNDS FOR THE <br /> PURCHASE OF CAPITAL EQUIPMENT FOR <br /> Airport Economic Development Area Tax BLACKTHORN GOLF COURSE <br /> Increment Financing funds for the purchase <br /> of capital equipment for Blackthorn Golf <br /> Course. <br /> (5) Lease Agreement with Oliver Plow <br /> Partners, LP for Lot #2, Oliver Industrial <br /> Park. <br /> Mr. Sikora noted that the "Contract for <br /> Purchase and Sale" of 4.64 acres of land in <br /> Oliver Industrial was approved during the <br /> Redevelopment Commission meeting on <br /> April 12, 2011. As part of its commitment, <br /> the Commission agreed to spend up to <br /> $200,000 to complete necessary site <br /> improvements. Redevelopment staff, in <br /> conjunction with the Department of <br /> Engineering, have been working closely with <br /> the developer to identify those improvements <br /> and associated costs and to outline the <br /> bidding process and construction timelines. <br /> The purpose of the Lease Agreement is to <br /> allow improvements to the site to be made in <br /> a way that satisfies the project's time <br /> constraints and allows for greater <br /> coordination and implementation of the <br /> Commission's commitment. The Lease <br /> Agreement does not significantly alter the <br /> terms of the Contract (or commitments made <br /> by each party therein) that was approved on <br /> April 12, 2011. <br /> 19 <br />