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South Bend Redevelopment Commission <br />Regular Meeting — August 19, 2005 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />(1) continued... <br />Ms. Greene noted that the property at 1743 <br />Commerce Drive is owned by the <br />Redevelopment Commission. It had been <br />vacant when the Commission was <br />approached by a business operating as <br />"Advantage Puck" requesting to use the <br />property on a short term basis. The <br />Commission approved the short term use of <br />the building by Advantage Puck; Advantage <br />Puck has now vacated the property. KeyBank <br />has subsequently taken over the assets of <br />Advantage Puck and is in the process of <br />auctioning off some of these assets. <br />KeyBank has requested authorization to enter <br />the property for the purpose of conducting <br />the auction and has agreed to indemnify the <br />Commission during the time it is using the <br />building to conduct the auction and remove <br />assets. <br />Incidental to this matter, there is one piece of <br />equipment located on the property that is not <br />part of KeyBank's security interest, but had <br />instead been leased by Advantage Puck from <br />another entity by the name of Hokensen. Mr. <br />Hokensen has asked for the opportunity to <br />remove the leased equipment. Since <br />KeyBank will be in possession of the <br />property until August 20, Mr. Hokensen <br />would not be permitted to enter the property <br />until August 22 to remove his equipment. <br />Mr. Hokensen would also indemnify the <br />Commission during his time of access to the <br />property. <br />21 <br />