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South Bend Redevelopment Commission <br />Regular Meeting —July 20, 2001 <br />6. NEW BUSINESS (CONT.) <br />a. (Continued...) <br />MR. MASTERS (Continued...) <br />There are several interested parties, to lease <br />space in the property. The point I was making <br />earlier is that you cannot lease space long term <br />if you've got property that is on an active <br />acquisition list. Nor can you obtain financing <br />on a long term basis to renovate the building, <br />when it is on an active acquisition list. That's <br />really the basis of our objection here. Without <br />any specific plans and any specific need to take <br />this property, you are interfering with my <br />client's plans to develop that property. <br />MR. HUNT: Are there any other questions from <br />the Commissioners? Then we have to go back <br />to the attorney. We need to deal with this <br />[South Bend Lathe] remonstrance. <br />MS. GREENE: Right, you have two different <br />issues that are raised in the written <br />remonstrance. <br />Number one is the argument that the property is <br />not blighted. The finding of blight does not go <br />to the individual property, it goes to the area. If <br />the Commission is comfortable with the <br />findings of blight with respect to that area, then <br />that is the decision of the Commission. <br />Second, is the issue of whether or not this <br />property will potentially be acquired for a public <br />purpose. The Statute specifically states that <br />redevelopment of a blighted area is a public <br />purpose. <br />The Commission needs to make a ruling on this <br />25 <br />