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South Bend Redevelopment Commission <br />Regular Meeting —March 21, 2003 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(5) continued... <br />to the cost of property acquisition, <br />redevelopment and economic development <br />in or serving the Airport Economic <br />Development Area. <br />(6) Commission approval requested for <br />Contract For Sale Of Land For Private <br />Development and Quit Claim Deed with <br />The Cooreman Real Estate Group, Inc. <br />Mr. Rock reported the Contract For Sale Of <br />IL Land For Private Development is with Mr. <br />Steve Cooremen for 19 acres of property <br />located on the northwest corner of Brick <br />Road and the Bypass. Mr. Cooreman has <br />been doing construction on this property <br />with permission from and the <br />Redevelopment Commission subject to <br />review by Commission's attorney. <br />Ms. Greene advised that the Quit Claim <br />Deed has been prepared; however, <br />Mr. Cooreman has not had the opportunity <br />to review it. It is a standard Quit Claim <br />Deed, but in fairness to Mr. Cooreman, he <br />should have the opportunity to review and <br />comment before the Commission signs. <br />Unless there's a material change to the Quit <br />Claim Deed as drafted, the Commission can <br />approve it today and proceed with closing <br />next week. If there is request for material <br />change it would have to be brought back <br />before the Commission. <br />20 <br />COMMISSION APPROVED RESOLUTION NO. 1966 <br />APPROPRIATING THE PROCEEDS (INCLUDING <br />INVESTMENT EARNINGS THEREON) OF THE <br />SOUTH BEND REDEVELOPMENT DISTRICT TAX <br />INCREMENT REVENUE BONDS, SERIES 2003, TO <br />BE APPLIED TO THE COST OF PROPERTY <br />ACQUISITION, REDEVELOPMENT AND ECONOMIC <br />DEVELOPMENT IN OR SERVING THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA. <br />