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South Bend Redevelopment Commission <br />Regular Meeting - May 15, 1998 <br />6. NEW BUSINESS (CONT.) <br />a. continued.... <br />would require a lot of truck traffic. <br />Mr. Hunt stated that zoning is something <br />Panzica Development Corporation needs to <br />work with the staff on. <br />Owen Rock stated that the staff intends to <br />either upgrade the current Business Park <br />zoning category or develop a new one. <br />Mr. Panzica stated that they are <br />representing to their tenant that they are an <br />acceptable use and Panzica's tenant will <br />probably want some acknowledgement of <br />that. <br />Mr. Faccenda stated that the Commission's <br />concern is not with the initial user but with <br />the subsequent uses of the property. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission approved the second staff <br />report on disposition of property in the <br />Airport Economic Development Area, <br />subject to: (1) Accepting the proposal for <br />purchase of Parcel 2 consisting of 6.2 acres <br />for a purchase price of $217,000. (2) <br />Panzica Development Corporation <br />assuming the right and obligation to <br />purchase, within 24 months of occupancy <br />of Parcel 2, the adjacent Parcel 3 consisting <br />of 4.64 acres for a purchase price of <br />$162,400. (3) Rejecting the request for first <br />right of refusal on Parcels 4 and 5. (4) <br />Directing the staff to inform Panzica <br />-14- <br />COMMISSION APPROVED THE SECOND STAFF <br />REPORT ON DISPOSITION OF PROPERTY IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA, <br />SUBJECT TO: (1) ACCEPTING THE PROPOSAL FOR <br />PURCHASE OF PARCEL 2 CONSISTING OF 6.2 ACRES <br />FOR A PURCHASE PRICE OF $217,000. (2) PANZICA <br />DEVELOPMENT CORPORATION ASSUMING THE <br />RIGHT AND OBLIGATION TO PURCHASE, WITHIN <br />24 MONTHS OF OCCUPANCY OF PARCEL 2, THE <br />ADJACENT PARCEL 3 CONSISTING OF 4.64 ACRES <br />FOR A PURCHASE PRICE OF $162,400. (3) REJECTING <br />THE REQUEST FOR FIRST RIGHT OF REFUSAL ON <br />PARCELS 4 AND 5.(4) DIRECTING THE STAFF TO <br />INFORM PANZICA DEVELOPMENT CORPORATION <br />OF OTHER INQUIRES OF PARCELS 4 AND 5. (5) <br />HAVING THE COMMISSION ADOPT PANZICA <br />DEVELOPMENT CORPORATION'S MASTER PLAN <br />RELATIVE TO THE SERVICE ROAD <br />