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South Bend Redevelopment Commission <br /> Regular Meeting—November 8, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. South Bend Central Development Area <br /> (4) continued... <br /> of certain contractual rights, the execution INCREMENT REVENUE BONDS,SERIES 2003 <br /> and delivery of its City of South Bend, (SOUTH BEND CENTRAL DEVELOPMENT AREA, <br /> Indiana, Redevelopment District Amended AND REGARDING CERTAIN RELATED MATTERS <br /> Tax Increment Revenue Bonds, Series 2003 <br /> (South Bend Central Development Area), <br /> and regarding certain related matters. <br /> D. Airport Economic Development Area <br /> (1) Staff report on Ignition Park South <br /> expansion. <br /> Mr. Relos noted that the Commission STAFF REPORT ON IGNITION PARK SOUTH <br /> authorized acquisition of 150 parcels in the EXPANSION <br /> Ignition Park South expansion area. Of those <br /> 150 parcels, 21 were already owned by the <br /> city, 20 were acquired at the March 2010 tax <br /> sale, and seven were railroad owned. <br /> Mr. Relos reviewed a map of the Ignition <br /> Park South expansion area showing the <br /> current status of those parcels. As of today, <br /> 103 parcels are under city control, 29 are in a <br /> negotiating status, one was recently <br /> purchased at the September 2011 tax sale, <br /> and 10 have either stated they do not want to <br /> sell, or are in some other status with the <br /> department. For comparison purposes, as of <br /> the last update to the Commission 14 months <br /> ago, 66 parcels were under City ownership. <br /> Mr. Relos noted that, to date, total <br /> acquisition and relocation costs have been <br /> $2,193,965, compared to $3,999,500 that had <br /> been budgeted for these parcels (a <br /> $1,805,535 savings or 45%under budget). <br /> 13 <br />