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South Bend Redevelopment Commission <br />Regular ar Meeting — August 17, 2007 <br />6. NEW BUSINESS {CONY.} <br />B. Airport Eeonomk Development Area <br />(2) continued... <br />Mr. Downes made a motion to approve the <br />Option Agreement with Cressy & 'Everett for <br />developm.ent of B a i thom Corporate Park. <br />Mr. Pee lows i asked about the procedure <br />for getting a. motion on. the floor to table the <br />itent <br />Ms. Jones then. asked the other <br />Commissioners if they were comfortable <br />taking action on this item now or j.f they <br />needed more Wile. <br />Mr. Wake asked if the staff was comfortable <br />with the option process from having used it <br />in. the past. Mr. Inks responded that the <br />Commission has not used the option <br />agreement in the past. It has had listing <br />agreements only. But staff has had <br />opportunity to study the issue and is <br />comfortable with the process that has been <br />set out in this agreement. <br />Mr. Gibney also responded. He, has been <br />working with Cressy & Everett on the <br />concept for this option for more than three <br />months. The reason he thought it was <br />important, progressive and aggressive is that <br />Blackthom began in 1991. It is one of the <br />most attractive plots of land we have in the <br />City of South Bead. However, o% of the <br />land remains unsold. He felt that it was <br />important to forge partnerships with the <br />private sector, allowing them to do what they <br />do best. An option agreement is an <br />aggressive way to advance this project. We <br />17 <br />