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South Bend Redevelopment Commission <br />Special Meeting - October 13, 2000 <br />6. NEW BUSINESS <br />1. continued... <br />that the loan amount is anticipated to be <br />approximately $3.4 million. <br />Upon a motion by Mr. Faccenda, seconded <br />by Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1797 <br />pledging certain tax increment revenues to <br />the repayment of a Section 108 loan from the <br />U. S. Department of Housing and Urban <br />Development. (Oliver Plow Works Site) <br />m. Commission approval requested for Bid <br />Specifications for property in the Airport <br />Economic Development Area. <br />Mr. Rock stated that the property that is to be <br />sold is located at the Northwest corner of <br />Brick Road and the St. Joseph Valley <br />Parkway. He noted that the property size is <br />18.35 acres with a minimum purchase price <br />of $55,000 and the proposed use is <br />residential. <br />Upon a motion by Mr. Faccenda, seconded <br />by Ms. Jones and unanimously carried, the <br />Commission approved the Bid Specifications <br />for property located in the Airport Economic <br />Development Area. <br />n. Commission approval requested to publish <br />the Notice for Disposition of Land with <br />publication dates of October 20, 2000 and <br />October 27, 2000 and Receipt of Bids at <br />10:00 a.m. on November 17, 2000. <br />-10- <br />COMMISSION APPROVED RESOLUTION NO. <br />1797 PLEDGING CERTAIN TAX INCREMENT <br />REVENUES TO THE REPAYMENT OF A <br />SECTION 108 LOAN FROM THE U.S. <br />DEPARTMENT OF HOUSING AND URBAN <br />DEVELOPMENT (OLIVER PLOW WORKS SITE) <br />COMMISSION APPROVED THE BID <br />SPECIFICATIONS FOR PROPERTY LOCATED IN <br />THE AIRPORT ECONOMIC DEVELOPMENT <br />AREA <br />