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South Bend Redevelopment Commission <br /> Regular Meeting—May 10, 2011 <br /> 5. OLD BUSINESS (CONT.) <br /> A. Airport Economic Development Area <br /> (1) continued... <br /> (the old Jeep Acres property). <br /> Staff feels the total acquisition, relocation, <br /> and moving costs of$350,000 for this <br /> property is reasonable, and asks for approval <br /> of Resolution No. 2872 accepting the counter <br /> offer of$104,000 and approving relocation <br /> expenses of$246,000. <br /> Ms. King inquired as to whether the new <br /> property was within the City of South Bend. <br /> Mr. Relos responded that it is just outside of <br /> the city. Ms. King also asked what the cost <br /> was of the new buildings. Mr. Relos noted <br /> the cost is $285,000 or $290,000. The <br /> property contains a house as did the Prairie <br /> Salvage location. The building space is <br /> approximately 10,000 sq. ft. They currently <br /> have 7,000 sq. ft. The clarifications was <br /> made that the city is paying Prairie Salvage <br /> $104,000 towards the purchase of the new <br /> property. <br /> Mr. Downes asked when Prairie Salvage was <br /> added to the acquisition list. Mr. Relos <br /> responded that it was May 21, 2010, when <br /> we added the properties along the north side <br /> of Indiana from Taylor to Prairie. <br /> Mr. Inks added that when we applied for the <br /> Certified Technolgy Park with the State, we <br /> told them that we were in the process of <br /> acquiring property on the north side of <br /> Indiana and also to the east of Franklin <br /> Street. The tech park agreement provides <br /> that once the Commission acquires, <br /> 7 <br />