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South Bend Redevelopment Commission <br /> Regular Meeting—April 10, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (7) continued... <br /> While Phase I of the project contemplated <br /> and worked to achieve two of the four core <br /> components of the project, power and <br /> connectivity, Phase II is about Space and <br /> Innovation. <br /> The key element of Phase II deals with the <br /> remediation, rehabilitation and repurposing <br /> of the Ivy Tower structure into the usable <br /> building inventory of South Bend. From a <br /> redevelopment perspective, there are two <br /> methods of facilitating redevelopment of a <br /> site -- (1)raze and wait or(2)remediate, <br /> rehabilitate and repurpose. While the City <br /> has seen successes with the first type of <br /> redevelopment, several stellar projects in the <br /> city over the last several years were <br /> accomplished by the latter method, and Phase <br /> II of this project would fit into that category. <br /> The challenge with brownfield or greyfield <br /> redevelopment is that there are many more <br /> impediments to site development than <br /> development on a greenfield site. By playing <br /> a role in obstacle removal and burden <br /> sharing, brownfield and greyfield <br /> redevelopment begins to balance with the <br /> cost delta of greenfield development. In <br /> Phase II of the Renaissance District project, <br /> staff is requesting the Redevelopment <br /> Commission perform the role of site <br /> preparation to help facilitate reuse of the Ivy <br /> Tower site. <br /> The proposal, and the subsequent <br /> Memorandum of Understanding for Phase II <br /> 14 <br />