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LM <br />South Bend Redevelopment Commission <br />Regular Meeting— December 19, 2003 <br />6. NEW BUSINESS <br />E. Airport Economic Development Area <br />(3) continued... <br />regards. The requested Bond Counsel fee is <br />considered reasonable in light of the many <br />changes and magnitude of financing <br />involved in the transactions. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission approved the amended Letter <br />of Agreement from Baker & Daniels to <br />serve as Legal Bond Counsel for the Airport <br />Tax Increment Finance (TIF) Revenue Bond <br />Financing. <br />(4) Commission approval requested for <br />Resolution No. 2025 related to the <br />acquisition of property in the Airport <br />Economic Development Area. (Gaby <br />property) <br />Mr. Case reported that Resolution No. 2025 <br />sets the acquisition price for property located <br />at 23953 Brick Road in the Airport <br />Economic Development Area. The <br />acquisition price is determined by the <br />average of two separate appraisals. <br />Resolution No. 2025 sets the acquisition <br />price at $100,000. <br />Ms. Greene noted that the property owners <br />voluntarily offered their property for <br />acquisition prior to the property becoming <br />part of the Airport Economic Development <br />Area. There have been a long series of <br />on -going negotiations; however, now that <br />the Airport Economic Development Area <br />C 18 <br />COMMISSION APPROVED THE AMENDED LETTER <br />OF AGREEMENT FROM BAKER & DANIELS TO <br />SERVE As LEGAL BOND COUNSEL FOR THE <br />AIRPORT TAX INCREMENT FINANCE (TIF) <br />REVENUE BOND FINANCING. <br />