Laserfiche WebLink
South Bend Pedevelopment Commission <br />Special Meeting - August 31, 1990 <br />2. NEW BUSINESS (Cont.) <br />a. continued... <br />velopment Authority. The projects <br />are identified in Exhibit B are the <br />eats that would be leased by the <br />ission from the Redevelopment <br />ority and financed by a <br />e /Purchase bond issued by the <br />ority. <br />The projects are in the Airport Economic <br />Development Area. There are four major <br />activities which are being proposed. <br />Mrs. Kolata explained the four projects: <br />1) inancing the construction of internal <br />roa in the Airport Economic Development <br />Ar to open up land for the <br />bus' s /corporate /office area. The <br />pr is to construct two loop roads <br />in the area and to extend Mayflower <br />Road south of Old Cleveland Road for an <br />estimated $4.2 million. <br />2) cquisition of approximately 10 <br />par is of land. Acquisition and <br />relocation is estimated to cost between <br />$1. million and $1.6 million. <br />3) Extension of Viridian Drive and <br />inpf,avements to Viridian Lake. We <br />pro to extend Viridian Drive <br />app ximately 200 feet. Viridian Lake is <br />a m m made drainage lake which was not <br />coq)leted by the Industrial Foundation. <br />The cost of the road extension is <br />$160,000 and the improvements to the lake <br />are estimated to cost $215,000. These <br />improvements will open up more lots for <br />bus ess development. <br />4) ion of water, sewer and <br />corm,truction of a sewage lift station at <br />Brick and New Cleveland roads. Penz <br />R ty owns about 70 acres north of New <br />Cleveland at Brick which they intend to <br />dev lop into a light industrial park. <br />The cost of these improvements is <br />estimated at $150,000. We intend to <br />-2- <br />TI <br />