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South Bend Redevelopment Commission <br />Regular Meeting - June 19, 1998 <br />6. NEW BUSINESS (CONT.) <br />h. continued.... <br />Mrs. Kolata stated that the loan to <br />Christine Bruno -Jordan is in the amount of <br />$18,200 at 2% interest for 20 years with <br />monthly payments of $91.92. The grant is <br />in the amount of $11,946. <br />Upon a motion by Mr. Blake, seconded by <br />Mr. Faccenda and unanimously carried, <br />the Commission approved the Loan and <br />Grant in connection with the Affordable <br />Loan Program for property located at 738 <br />W. Calvert. (Christine Bruno- Jordan) <br />i. Staff report on acquisition of property <br />in the Airport Economic Development <br />Area. <br />Owen Rock, Economic Development <br />Specialist, presented a proposal that was <br />received from One Blackthorn, LLC. One <br />Blackthorn, LLC proposes to purchase a <br />two -acre lot located on Nimtz Parkway in <br />the Blackthorn Corporate Park for a <br />purchase price of $55,000 or $27,500 per <br />acre. One Blackthorn, LLC has submitted <br />the required faithful performance guaranty <br />of 10 percent of the purchase price <br />($5,000). <br />Mr. Rock introduced Dave Hanover of <br />Shamrock Development, Inc. <br />Mr. Hanover stated that One Blackthorn, <br />LLC anticipates to start construction as <br />soon as possible. It proposes to construct <br />a two -story, 10,000 sf office building. The <br />primary tenant will be Shamrock <br />HAWPDATA \C0MMSN\061998.MIN -12- <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 738 W. <br />CALVERT. (CHRISTINE BRUNO- JORDAN) <br />