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South Bend Redevelopment Commission <br />Regular Meeting - March 19, 1993 <br />6. NEW BUSINESS (Cont.) <br />j. Commission awroval requested for <br />Resolution No. 1146 approving and <br />acggMtLmg the transfer of real property from <br />the St. Joseph County Airport Authority. <br />Ms. Manier explained that Resolution No. <br />1146 concerns the transfer to the <br />Commission from the St. Joseph County <br />Airport Authority of a parcel of land in the <br />corporate sites area of the Blackthorn <br />project. The Airport Authority is a partner <br />with the Commission in the development of <br />the Blackthorn Golf Course project. The <br />Airport Authority felt it was in its best <br />interest to transfer the land for the office <br />sites and let us market the property along <br />with our property. <br />Ms. Manier noted that the transfer includes <br />approximately 25 acres of land which the <br />Airport Authority is selling to the <br />Commission for $15,000 per acre. Payment <br />in full is to be made to the Airport in the <br />year 2000. We intend to make payment as <br />each disposition parcel in the transferred area <br />is sold. There will be no interest accruing <br />nor increase in price for the land. <br />Although the value of land in the Blackthorn <br />area should increase in value, the price per <br />acre that the Commission will reimburse the <br />Airport Authority will remain the same, <br />$15,000. <br />-15- <br />