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South Bend evelopment Commission <br />Regular Meeting - September 14, 1990 <br />6. NEW BUSINESS (Cont.) <br />a. continuea... <br />Mrs Kolata stated that the purpose of <br />the public hearing is to have a hearing <br />on the proposed lease. It's a lease <br />be een the Redevelopment Authority and <br />the Redevelopment Coiramission for the <br />Ccmaission to make certain lease payments <br />on a. semi - annual basis to the Authority <br />for certain public improvements to be <br />constructed in the Airport Economic <br />Development Area. The activities being <br />Proposed and that are included in the <br />1 are in four primary areas. The <br />f' t is financing the construction of <br />in roads in the Airport Economic <br />De lopment Area to open up land for the <br />bus ess caws and corporate office <br />The Proposal is to construct two <br />1 •roads. One is in the Northwest <br />ion off of relocated Old Cleveland <br />Row and the second is to extend <br />May lower Rd. south of Old Cleveland and <br />to nstruct a loop road off of that. <br />The total construction cost is estimated <br />at S4.2 million dollars. <br />The second is the acquisition of <br />approximately 10 parcels of land with <br />accimisition and relocation estimated to <br />cost between $1.2 million and $1.6 <br />is the extension of Viridian Dr. <br />approximately 200 feet and improvements <br />to Viridian Lake. Viridian Lake is a man <br />made drainage lake which has not been <br />ccupleted yet and our intent is to finish <br />tha construction. The cost of the road <br />ext:ension is estimated at $160,000 and <br />the improvements to the lake are <br />est ted to cost $215,000. <br />The fourth set of public improvements is <br />the extension of water and sewer and the <br />corLst,ruction of a sewage lift station <br />near the intersection of Brick Rd. and <br />New Cleveland Rd. to open up the light <br />-4- <br />