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South Bend Redevelopment Commission <br />Regular Meeting — September 13, 2011 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(1) continued... <br />King questioned whether the $13.9 million is <br />working capital and the Commission funds <br />would not go toward working capital. Mr. <br />Metreiver responded that they would not. <br />Ms. King asked about how the non - profit <br />group's Articles of Incorporation define the <br />kind of work that can be done. Mr. Garatoni <br />responded that the Articles of Incorporation <br />state that the organization is created to <br />operate a charter school in compliance with <br />state law. Also it's restricted to activities that <br />can be undertaken consistent with its <br />charitable status as a 501 C(3) organization. <br />Ms. King asked if it could be broader than <br />education. Mr. Garatoni responded, no. He <br />also said that under federal law it could be, <br />but because the articles were created <br />specifically for this one purpose, the articles <br />say it's for the purpose of this charter school <br />and nothing else. <br />Mr. Downes asked Mr. Hartz to describe the <br />current student body. Mr. Hartz responded <br />that the school currently consists of 7'h <br />through 9t" graders. They are mostly from <br />the South Bend area; the 46628 and 46614 <br />zip codes. There are children from out of the <br />area, too. The school is open enrollment so it <br />must take whoever comes through the door. <br />The student body is diverse, but about the <br />same as what is in the rest of the South Bend <br />Community School Corporation (SBCSC). <br />Being a career center, it's nearly 50150 <br />girls/boys. <br />17 <br />