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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -November 2, 2007 <br />6. NEW BUSINESS <br />A. Public Hearing <br />(7) continued... <br />understand the need for taxes, believe me. <br />Without those taxes we don't have the <br />resources to get our job done. <br />MR. MANIGAULT: I understand that. The <br />other question I have is on Cleo <br />Washington's house. Why is that such a <br />significant acquisition? <br />MR. GIBNEY: Because it's Cleo's and it's <br />the surrounding property that's there. Cleo <br />not only owns the house, he owns land to the <br />east that's part of a fenced, chain-linked <br />parking lot that, again, is part of the Gates <br />campus. So, now's the time to get it. We're <br />trying to avoid some speculation on that site. <br />MR. MANIGAULT: So, if this resolution is <br />approved, the city is going to spend $2. SM, <br />correct.? <br />MR. GIBNEY: $2. SM for the Cleo <br />Washington property? <br />MR. MANIGAULT: No, for all the <br />acquisition properties, Jeff. Don't play with <br />me like that. Just answer my question. <br />MR. GIBNEY: And I would say the same <br />thing to you. <br />MR. MANIGAULT: Well, I'm going by the <br />resolution. In the resolution it says $2. SM <br />for acquisition of property. <br />MR. GIBNEY: That is the potential. That is <br />45 <br />