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South Bend Redevelopment Commission <br />Regular Meeting —October 11, 2012 <br />6. NEW BUSINESS <br />A. South Bend Central Development Area <br />(4) continued... <br />Ultimately it comes back to the Commission to decide how to <br />proceed with the property. <br />B. Airport Economic Development Area <br />(t) Resolution No. 3097 approving the fair market value of <br />property in the Airport Economic Development Area (24505 <br />Cleveland Road) <br />Mr. Schalliol noted that Resolution No. 3097 sets the minimum <br />offering price for 24505 Cleveland Road at $275,000. The <br />property is presently zoned LI -Light Industrial. We would seek a <br />development that would meet that requirement. The property is <br />located just to the west of the Nimtz Parkway interchange with the <br />Bypass. The property abuts the Deluxe Sheet Metal property. <br />Upon a motion by Mr. Downes, seconded by Mr. Varner and <br />unanimously carried, the commission approved Resolution No. <br />3097 approving the fair market value of property in the Airport <br />Economic Development Area (24505 Cleveland Road) <br />(2) Bid Specifications and Design Considerations for 24505 <br />Cleveland Road <br />Mr. Schalliol noted that the Bid Specifications and Design <br />Considerations for 24505 Cleveland Road include that offers must <br />meet the minimum offering price and must include a basic reuse <br />plan detailing aspects of the site redevelopment and the site <br />improvements, Those plans must conform to objectives of the <br />Development Plan for the Airport Economic Development Area, <br />and bidders are prohibited from the use of the property for <br />speculation or land- holding purposes. <br />Upon a motion by Mr. Downes, seconded by Mr. Varner and <br />unanimously carried, the Commission approved the Bid <br />Specifications and Design Considerations for 24505 Cleveland <br />Road. <br />