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South Bend Redevelopment Commission <br />Regular Meeting — August 16, 2012 <br />6. NE BUSINESS (CONT.) <br />B. �,irport Economic Development Area <br />Real Estate Donation Agreement with Ivy <br />Tech for 230 E. Sample Street (former <br />Discount Rental) <br />Mr. Relos noted that on May 08, 2012, the <br />Commission authorized staff to move <br />forward with the donation to Ivy Tech of the <br />Discount Rental property, 230 E. Sample <br />Street. With the Discount Rental property, <br />Ivy Tech will be able to increase its parking, <br />which is a critical and immediate need, and <br />thereby hold additional classes at their <br />ITOSS building next door. The attached <br />Real Estate Donation Agreement will finalize <br />this transaction, and allow the transfer of this <br />property to Ivy Tech. Staff requests approval <br />of the Real Estate Donation Agreement. <br />Chancellor Tom Coley and Jim Jasiewicz <br />thanked the Commission for its efforts on Ivy <br />Tech's behalf. Ms. Jones and Mr. Downes <br />wished them good luck. <br />Upon a motion by Mr. Varner, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved the Real Estate <br />Donation Agreement with Ivy Tech for 230 <br />E. Sample Street (former Discount Rental). <br />6) Resolution No. 3060 approving the Fair <br />Market Value of Property in the Airport <br />Economic Development Area. (1017 W. <br />Indiana Ave.) <br />Mr. Relos noted that Resolution No. 3060 <br />sets the fair market value for 1017 W. <br />Indiana Ave. at $1,750, the average of two <br />independent appraisals. Staff requests <br />20 <br />COMMISSION APPROVED THE REAL ESTATE <br />DONATION AGREEMENT WITH IVY TECH FOR <br />230 E. SAMPLE STREET (FORMER DISCOUNT <br />RENTAL). <br />