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03-27-12 Packet
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South Bend Redevelopment Commission <br />Regular Meeting —March 13, 2012 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(7) continued... <br />the expanded power capabilities for not only <br />the Renaissance District, but also other <br />surrounding businesses, including but not <br />limited to, those located in Ignition Park. <br />The substation sites have been generally <br />selected but land has not been acquired nor is <br />there yet a specific participation request <br />beyond the city's acquisition of the proposed <br />sites. <br />4. Work with the city to facilitate <br />streetscape enhancements around the RD <br />In conclusion, the benefits to the city are <br />many and the return on investment provided <br />by Redevelopment Commission funding <br />should surpass expectations. Presently, the <br />former Millennium Environmental sits as <br />vacant land and the Ivy Tower building is <br />underused. The city long expected to get <br />involved with the acquisition and demolition <br />of the Ivy Tower facility, but the ability to <br />use the equivalent amount of funds to <br />repurpose the building is a much better use of <br />city resources than buying, demolishing and <br />maintaining a vacant site. While the . <br />exponential growth of occupancy in the <br />USTC is presently limited by the available <br />space on site, the ability to add connections <br />to the properties south of the tracks opens up <br />many formats and configurations that space <br />can be provided to new clients. This project <br />will bring opportunities to South Bend in the <br />form of improved tax base and new <br />construction, FTE and maintenance jobs. <br />But the project also expands the world <br />31 <br />
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