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South Bend Redevelopment Commission <br />Regular Meeting - December 18, 1998 <br />6. NEW BUSINESS (CONT.) <br />r. Staff report on disposition of property <br />in the Airport Economic Development <br />Area. <br />Owen Rock, Economic Development <br />Specialist, stated that a proposal was <br />received from Eagle Freight to purchase <br />6.3 acres of land in the US 31 Industrial <br />Park. Eagle Freight's proposed purchase <br />price is $201,600 for the 6.3 acre land <br />(approximately $32,000 an acre). Eagle <br />Freight has provided the required 10 <br />percent performance guarantee of $20,160. <br />Eagle Freight proposes to construct a <br />20,000 sf building with a masonry front <br />and metal sides. The building will also <br />have 11 docks and a 20 ft setback. Of the <br />20,000 sf, 2,500 sf will be office space. <br />Eagle Freight will have an additional <br />20,000 sf of land remaining to expand its <br />new facility in the future. Eagle Freight's <br />current lease will end in the spring of <br />1999. Eagle Freight would like to be in <br />their new building by the spring of 1999. <br />In addition, the parcel of land needs to be <br />rezoned back to "D" light industrial from <br />"IP" Industrial Park zoning. <br />Tim Heinz of Eagle Freight stated that <br />Eagle Freight is and has been the fastest <br />growing air freight carrier and expediter <br />for the past three years. He also stated that <br />he has been with Eagle Freight for <br />approximately a year and a half. Eagle <br />Freight opened a facility off of Mayflower <br />Road in South Bend, and Eagle Freight's <br />revenue continues to increase. Eagle <br />HAWPDATATOMMSM121898.MIN -17- <br />