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South Bend Redevelopment Commission <br />Regular Meeting -July 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />continue ... <br />development costing $22 million. <br />Ms. Greene noted that staff has been <br />negotiating the development agreement for <br />some time. The Portage Prairie project is a <br />long term project. We've divided out Phase I <br />which commits the Commission to putting in <br />infrastructure that it intended to do to expand <br />and improve the development area anyway. <br />This will help jumpstart the Portage Prairie <br />project. <br />Mr. King asked if it wouldn't be wise to <br />consider making Portage Prairie a <br />development area of its own, rather than part <br />of the Airport Economic Development Area. <br />The project area is approximately 600 acres. <br />Ms. Greene responded that staff is <br />considering creating a separate development <br />area for Portage Prairie, but is not ready to <br />decide that now. We wanted to get going <br />with the construction of Dylan Drive and the <br />other infrastructure improvements. The <br />quickest way to do that was as part of the <br />Airport Economic Development Area. <br />Mr. Inks noted that taking this small step <br />right now keeps open the option of a separate <br />development area. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved the Agreement By and <br />Between the City of South Bend, Indiana, <br />Acting By and Through Its Redevelopment <br />COMMISSION APPROVED THE AGREEMENT BY <br />AND BETWEEN THE CITY OF SOUTH BEND, <br />INDIANA, ACTING BY AND THROUGH ITS <br />REDEVELOPMENT COMMISSION AND <br />WAGGONER FARMS DEVELOPMENT, L.P. <br />PORTAGE PRAIRIE DEVELOPMENT PHASE I <br />36 <br />