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South Bend Redevelopment Commission <br />Special Meeting —June 19, 2007 <br />2. NEW BUSINESS <br />A. Airport Economic Development Area <br />(1) continued... <br />a steep Lip -front investment in the area with a. <br />payback over time as those sites became <br />available and new development occurs. <br />Ms. ,Tones: The nature of those two areas is <br />dramatically different. To compare them is <br />like comparing apples to oranges. The <br />Airport Economic Development Area is just <br />an economic development area, not a <br />redevelopment area because it didn't require <br />all of that infrastructure investment up font. <br />It was mice green land, ripe for development. <br />Recapturing a redevelopment area always <br />includes a lot of those upfront costs, so you <br />cant really say "this is so successful because <br />it got out of the gate and rare fast and started <br />contributing," That' the nature of an <br />economic development area that doesn't <br />require initial investment. You have to <br />consider the history of those two <br />development areas, too. <br />Mr. Pecovsli : well, why are we cobbling <br />these four together? I can see the LaSalle <br />Square, but then the Hurwich and the <br />Sample--wing Sample-Ewing district, it loops like we're <br />throwing good money after bad by putting <br />these four districts together. I can see the <br />two. It's almost like we're here in <br />Washington and we're adding on a little port <br />to the barrel because we've got a problem <br />with... As I recall, we have a note that's due <br />on the Sample-Ewing project that hasn't been <br />paid yet. <br />0 <br />