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South B d Redevelopment Commission <br />Regular eeting — August 16, 2012 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />6) continued... <br />approval of Resolution No. 3060. <br />Upon a motion by Mr. Varner, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 3060 <br />approving the Fair Market Value of Property <br />in the Airport Economic Development Area. <br />(10 17 W. Indiana Ave.) <br />Bid Specifications and Design <br />Considerations for property located at <br />1017 W. Indiana Ave. <br />Mr. Relos noted that the Bid Specifications <br />and Design Considerations for disposition of <br />1017 W. Indiana Ave. include that all offers <br />must meet the minimum offering price, must <br />conform to the existing zoning provisions set <br />forth for an MU zoning district, and must <br />include a basic reuse plan for the site and a <br />project timeline detailing aspects of the site <br />development and site improvements. During <br />the review process, emphasis will be placed <br />on compatibility with the goals and <br />objectives of neighboring Ignition Park PUD, <br />as well as the Development Plan for the <br />Airport Economic Development Area. The <br />property may not be purchased for <br />speculation. <br />COMMISSION APPROVED RESOLUTION NO. 3060 <br />APPROVING THE FAIR MARKET VALUE OF <br />PROPERTY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA. (10 17 W. INDIANA AVE.) <br />Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED THE BID <br />Mr. Downes and unanimously carried, the SPECIFICATIONS AND DESIGN CONSIDERATIONS <br />Commission a pp roved the Bid Specifications FOR PROPERTY LOCATED AT 1017 W. INDIANA <br />p ec AVE. <br />and Design Considerations for property <br />located at 1017 W. Indiana Ave. <br />21 <br />