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South Bend Redevelopment Commission <br />Regular Meeting — October 11, 2011 <br />Park because their requirements are too tight, <br />the cost to expensive. Investors will have <br />other choices of where to locate. <br />Mr. Gibney added that Economic <br />Development agrees. We will talk to <br />anybody, but that doesn't mean everybody is <br />the right tenant. All prospective tenants are <br />welcome to discuss the appropriateness of <br />being in Ignition Park. <br />Mr. Varner asked if the Park will list with <br />private developers or private real estate <br />companies, or will the city try to manage it <br />all. Mr. Gibney replied that Graham Allen <br />Partners is going make some recom- <br />mendations about that. Staff generally feels <br />that the broader exposure we get the better. <br />Most of the properties that Redevelopment <br />owns are commercially listed at this time. <br />Ms. King's stated that the real value of our <br />land is not the sales price it brings, but the <br />employment and assessed value (taxes) it <br />brings. <br />Mr. Gibney agreed. That site, were Ignition <br />Park will be built, was a million square feet <br />of abandoned, polluted real estate that was <br />for a long time the City's responsibility. <br />Maintaining slums, dilapidated property, is <br />not inexpensive. It's not free to maintain <br />property like that. Studebaker Corridoe cost <br />the city a fortune over the years, just like our <br />poorest neighborhoods are continuing to cost <br />us a fortune. If Economic Development is <br />not proactive, instead of just reactive, that <br />checkbook is writing out checks all day long. <br />The biggest piece of the city budget, public <br />safety, police, fire, those dollars are spent in <br />our poorest, dilapidated neighborhoods. That <br />is our budget. So Ms. King's comments are <br />15 <br />