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uth Bend Redevelopment Commission <br />(twxgular Meeting - February 18, 1994 <br />6. NEW BUSINES Cont.) <br />j . <br />continued... <br />The value of this land was set low <br />because there was no infrastructure. The <br />partnership has bid what the staff feels is <br />a fair price for land in this area which <br />includes infrastructure. We had not <br />wanted to put a road into this area <br />without knowing where a developer <br />would want the road, because there are <br />several ways a road could divide the <br />land. We'd rather know before doing it <br />that someone wants it that way. <br />However, once the road is in, there will <br />be other land to the north and to the east <br />ra <br />opened up for development. <br />Upon a motion by Mr. Piasecki, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />accepted the staff report on the <br />disposition of Lot 18C in the Toll Road <br />Industrial Park, accepted the proposal of <br />the Toll Road Industrial Partners L.P. , <br />authorized execution of the necessary <br />documents, and agreed to allow the <br />partnership to begin construction at their <br />own risk before closing on the property. <br />k. Commission approval requested for <br />Resolution No. 1229 approving and <br />accepting the transfer of real property <br />from the St. Joseph County Airport <br />Authority. <br />Mrs. Kolata explained that the Airport <br />Authority owns approximately 16 acres <br />of land immediately south of the toll <br />-19- <br />COMMISSION ACCEPTED THE STAFF <br />REPORT ON THE DISPOSITION OF LOT 18C <br />IN THE TOLL ROAD INDUSTRIAL PARK, <br />ACCEPTED THE PROPOSAL OF THE TOLL <br />ROAD INDUSTRIAL PARTNERS L.P., <br />AUTHORIZED EXECUTION OF THE <br />NECESSARY DOCUMENTS, AND AGREED TO <br />ALLOW THE PARTNERSHIP TO BEGIN <br />CONSTRUCTION AT THEIR OWN RISK <br />BEFORE CLOSING ON THE PROPERTY <br />