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South Bend Redevelopment Commission <br />Regular Meeting -October 20, 2006 <br />6. NEW BUSINESS (CONT.) <br />E. Airport Economic Development Area <br />continue ... <br />MS. GREENE: No, this is not in a <br />redevelopment area or an economic <br />development area, and again, one of the <br />reasons that you look at the entire area, you <br />look at the project, and how does it fit. A <br />redevelopment area provides you with one <br />other tool, primarily, that you don't have in <br />an economic development area: the power to <br />use eminent domain if necessary. You don't <br />have that in an economic development area. <br />As you look to either expand the existing <br />Airport Economic Development Area, among <br />other things, not only are you looking at the <br />financial impact of adding that area, <br />expanding the existing area, but you are also <br />looking at, whether there is an additional tool <br />that you are going to need in your tool kit in <br />order to accomplish a development plan that <br />you come up with for that area. If you see <br />that there is the potential that you would need <br />to use eminent domain in order to accomplish <br />a development plan then you want to look <br />more toward a redevelopment area rather <br />than to expand an existing area or to create a <br />new economic development area. <br />MR. BLAKE: You don't have one that <br />would be both an economic development <br />area and a redevelopment area? <br />MS. GREENE: We looked before if we <br />could STIF a TIF, but I don't think we ever <br />determined that we could redevelop an <br />economic development area. <br />28 <br />