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� A ( ,) P , r South Bend Redevelopment Commission Staff Report Airport Economic Development Area TIF Appropriation No. 2 Prepared June 9, 2011 The Appropriation Resolution is for an additional $8.5 million. Together with the original appropriation of $13.745 million, the total appropriations will be $22.245 million. In the original appropriation about $4.4 million was for debt service, $4.5 million was for specific projects and another $4.8 million was available for a number of other projects that might happen (sort of a Development Opportunity Reserve). Since the original appropriation, $4.6 million of the Development Opportunity Reserve of $4.8 million has been allocated to specific projects. The schedule attached to this Staff Report shows in the first column the amounts of all projects currently allocated, including this $4.6 million, and the remaining Development Opportunity Reserve of $177,225. The second column shows the proposed Appropriation and how that would be initially allocated. $4.9 million will be for specific projects as listed and $3.6 million would be added to replenish the Development Opportunity Reserve to fund other projects listed in the AEDA Strategy. Brief descriptions of the specific projects being funded in this appropriation are noted below. Oliver Plow Site Improvements is the $200,000 committed for the development of a new facility for ABC Supply Company. The Commission sold land at Oliver Plow Park for this Project. Oliver Plow Partners, L.P. plans to construct an approximately 40,000 SF building (of which 5,500 SF is office and showroom) at a cost of $1,750,000 for its tenant ABC Supply Company. The project will retain 10 existing jobs and one part-time job with a total annual payroll of $419,958, while adding two more positions totaling $65,000 per year. The Mayflower Road Realignment & Improvements project is for $2.5 million. This work will include the construction of a new roadway, all related drainage and utility work, street lights and pedestrian trail. The work will also include a new traffic signal at Mayflower Boulevard and Cleveland Road. The Mayflower Trunk Sewer is for $2.0 million. This work will include the construction of a new sewer force line that will intercept sewage at the intersection of Mayflower and Brick and force the material to the Blackthorn Lift Station located on Nimtz Parkway. There will be additional sewer network configuration that will be part of this project that will free up capacity in the existing network on the northwest side of town. LaSalle Square Acquisition for $200,000 is related to an elderly housing project which the Commission has committed to acquiring land for. Sterling Development, LLC plans