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South Bend Redevelopment Commission <br />Regular Meeting— September 6, 2002 <br />6. NEW BUSINESS (CONT.) <br />F. Airport Economic Development Area <br />(5) continued... <br />Ms. Greene asked if the acquisition was <br />going to be accomplished through the <br />Redevelopment Commission or the Board of <br />Public Works. <br />Mr. Case responded that the parcel was a <br />right -of -way acquisition to the Board of <br />Public Works; however, TIF funds were <br />being utilized and therefore must be <br />approved by the Commission. <br />Upon a motion by Ms. Jones, seconded by COMMISSION APPROVED THE PROPOSALS FROM <br />Mr. Faccenda and unanimously carried, the RALPH LAUVER, MAI AND R. E. PITTS & <br />Commission approved the proposals from ASSOCIATES, INC., MAI FOR PROFESSIONAL <br />SERVICES IN THE AIRPORT ECONOMIC <br />Ralph Lauver, MAI and R. E. Pitts & DEVELOPMENT AREA. (APPRAISAL WORK, <br />Associates, Inc., MAI for professional 52097 OLIVE ROAD) <br />services in the Airport Economic <br />Development Area. (Appraisal work, -52097 <br />Olive Road) <br />(6) Staff report on disposition of property in <br />the Airport Economic Development Area. <br />(Lot 4 and a portion of Lot 5 in the <br />U.S. 31 Industrial Park - South Bend <br />Shops, LLC.) <br />Mr. Case reported that the property is <br />located at the northwest corner of Brick <br />Road and the US 31 by -pass. The property, <br />known as Lot 4 and part of Lot 5, US 31 <br />Industrial Park, is approximately two acres <br />and is zoned "D" Light Industrial. The <br />asking price for the property is $125,000 per <br />acre. Mr. Case described a recent proposal <br />submitted by South Bend Shops, LLC <br />16 <br />