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South Bend Redevelopment Commission <br />Regular Meeting - December 6, 1996 <br />To date nearly 1,800 jobs have been created. <br />Since 1991, the net assessed value in <br />Blackthorn increased by nearly $13,500,000. <br />Over the last six years, the private sector has <br />invested over $165 million in the Blackthorn <br />Development Area. This figures represents <br />more than 25% of the objective of over $680 <br />million of investment by 2010. The Michiana <br />Regional Transportation Center now serves <br />over 1 million air, rail and bus passengers <br />annually. <br />The Blackthorn Development Area has seen <br />over 2.2 million square square feet of new <br />construction over the past six years. To date <br />the Corporate Park has over $15 million <br />dollars of private construction activity in <br />projects announced, completed, or underway. <br />Mrs. Kolata summarized that we are well on <br />our way to meeting the goals set in 1990. <br />Hall of Fame —Mr. Jim Cierzniak asked to <br />speak to the Commission about the Hall of <br />Fame. He stated that he has been tracking the <br />Economic Research Associates' projections <br />associated with the College Football Hall of <br />Fame. <br />He stated that in 1993 Economic Research <br />Asssociates projected the College Football <br />Hall of Fame's revenue, expenses, and net <br />operating income for 1995 and 1996. He <br />stated that Economic Research Associates <br />projected revenue, for the first four months of <br />business ending December 1995, to total <br />$1,314,855, after taking out the cost of goods <br />sold. The actual revenue for the first four <br />months ending December 1995, totaled <br />$905,869. He stated that Economic <br />Reasearch Associates overestimated revenue <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\120696.MIN -18- <br />