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South Bend Redevelopment Commission <br />Regular Meeting - June 16, 1995 <br />6. NEW BUSEWSS (Cont.) <br />n. continued... <br />the St. Joseph County Airport Authority. <br />They are a series of agreements and <br />actions needed to meet the requirements <br />of Midwest Land Company. <br />This agreement covers how the cost of <br />moving a power line, which is in the <br />way of their building project, will be <br />paid. The cost of moving the power line <br />is estimated to be approximately <br />$325,000. I & M will contribute the <br />lesser of $72,000 or 25 % of the cost; <br />Midwest Land Company will contribute <br />$82,000 or 25 % of the cost; the City of <br />South Bend, through a grant from the <br />Department of Commerce will contribute <br />$65,000; and Redevelopment will pay <br />the balance of the cost, estimated at <br />$106,000. <br />Upon a motion by Mr. Hcjnacki, <br />seconded by Mr. Hunt and unanimously <br />carried, the Commission approved the <br />Agreement among the City of South <br />Bend, Indiana, Department of <br />Redevelopment, the City of South Bend, <br />Indiana, and Midwest Land Company <br />concerning the relocation of an electrical <br />power line and related matters. <br />o. Commission approval requested for <br />Agreement between the South Bend <br />Department of Redevelopment, the <br />City of South Bend, Indiana, and <br />Indiana Michigan Power Company. <br />-16- <br />COMMISSION APPROVED THE AGREEMENT <br />AMONG THE CITY OF SOUTH BEND, <br />INDIANA, DEPARTMENT OF <br />REDEVELOPMENT, THE CITY OF SOUTH <br />BEND, INDIANA, AND MIDWEST LAND <br />COMPANY CONCERNING THE RELOCATION <br />OF AN ELECTRICAL POWER LINE AND <br />RELATED MATTERS <br />