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South Bend Redevelopment Commission <br />Regular Meeting — November 18, 2005 <br />5. OLD BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(1) continued... <br />Ms. Greene noted that the developer has <br />never withdrawn its original proposal. The <br />Commission is being asked to authorize <br />changes to the proposal it has previously <br />approved based on recognition that the site <br />has significant unforeseen development <br />obstacles and to memorialize those changes <br />into a development contract. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission authorized staff to present the <br />revised proposal terms to the developer. <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2196 approving a real <br />property tax deduction for property in the <br />Airport Economic Development Area <br />(Imagineering) <br />Mr. Schaffer gave the staff report on the <br />project. Imagineering Properties, L.L.C. is <br />the real estate holding company for <br />Imagineering Enterprises, Inc., a metal <br />finishing service to the automotive and <br />aerospace industries. Imagineering <br />Properties proposes to build an 80,000 sq. ft. <br />building on 8.67 acres of land on Nimtz <br />Parkway. The estimated cost of the project is <br />$4,500,000. This building will be the <br />processing facility and offices of <br />Imagineering Enterprises operations in South <br />c, <br />COMMISSION AUTHORIZED STAFF TO PRESENT <br />THE REVISED PROPOSAL TERMS TO THE <br />DEVELOPER. <br />