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South Bend Redevelopment Commission <br />Regular Meeting —March 1, 2002 <br />6. NEW BUSINESS (CONT.) <br />D. Sample -Ewing Development Area <br />(2) continued... <br />noted there is presently a billboard on the <br />property. Burkhart Advertising has been <br />contacted and is willing to negotiate a long <br />term lease with a potential purchaser. The <br />staff will not act on this purchase until <br />such time as a total site development is <br />available, so a long term lease could be <br />established. <br />Upon a motion by Ms. Jones, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved Resolution <br />No. 1873 related to acquisition of property <br />in the Sample -Ewing Development Area <br />by eminent domain. (East Sample <br />Development Site) <br />(3) Commission approval requested for <br />Resolution No. 1874 establishing the <br />Commission's intent to reimburse <br />certain preliminary costs from the <br />proceeds of bonds. <br />Mr. Inks reported that we are currently <br />looking at the possibility of a bond to <br />finance development opportunities in the <br />Sample -Ewing Development Area. He <br />noted that the staff was moving ahead with <br />preliminary figures to assess the cost <br />effectiveness of projects in that area as <br />well as anticipate future acquisition and <br />public works costs. Resolution No. 1874 <br />anticipates the Commission will reimburse <br />those front end costs through the proceeds <br />of a bond issue. <br />15 <br />COMMISSION APPROVED RESOLUTION NO. 1873 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />SAMPLE -EWING DEVELOPMENT AREA BY <br />EMINENT DOMAIN. (EAST SAMPLE <br />DEVELOPMENT SITE) <br />