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South Bend Redevelopment Commission <br /> Regular Meeting—November 29, 2012 <br /> 6. NEW BUSINESS <br /> C. Airport Economic Development Area <br /> 1) continued... <br /> Mr. Varner asked what Curtis Products does. Mr. David Heckaman responded that they <br /> fabricate steel tubing and other things. The tubing they sell to the agricultural market. <br /> Mr. Davis asked if there had been any conversations about filling the building that Curtis <br /> Products will be leaving. Mr. Inks responded that during the negotiations, staff recognized <br /> that those buildings would need to be addressed. That is why we came up with the two years <br /> of no rent, giving Curtis Products an opportunity to market those properties for lease or sale. <br /> Certainly as businesses approach us about space in the community, we are making them <br /> aware of those buildings to the extent that we supply potential tenants to lease or buy. <br /> At this point Curtis Products is looking to market those. Staff requests approval of the lease <br /> terms and authorization to prepare a lease with an option to purchase. <br /> Mr. David Heckaman noted that they have not started to market the property yet, but they <br /> have had a couple of people look at it over the past year, since they've been in negotiations <br /> about the Bosch building. There seems to be a little bit of interest. They have four or five <br /> buildings, which could be marketed individually. He thought it doubtful that anyone would <br /> want the whole campus. <br /> Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the <br /> Commission approved the Letter of Intent from Curtis Products to lease the Bosch site and <br /> authorized staff to proceed with preparation of a lease with an option to purchase. <br /> 2) Resolution No. 3109 regarding the disposition of certain personal property and matters <br /> related thereto. (F Cubed) <br /> Mr. Inks noted that Resolution No. 3109 authorizes the disposition process for the equipment <br /> purchased in accordance with the terms of the Memorandum of Understanding (MOU) with <br /> F Cubed, approved by the Redevelopment Commission on November 8, 2012. F Cubed is <br /> one of the first companies to graduate from Innovation Park. They would like to locate their <br /> growing business in Ignition Park when there is a multi-tenant facility available. In the <br /> interim they are locating in the former St. Joseph High School. As part of our efforts to <br /> retain the company in South Bend, and eventually locate them in Ignition Park, the MOU <br /> commits the Redevelopment Commission to acquiring certain scientific equipment and <br /> providing an opportunity for F Cubed to lease that equipment. The cost of the equipment as <br /> established by the Commission at the November 8 meeting is not to exceed $138,000. <br /> The disposition process will include the advertising of an Offering Sheet which sets the price <br /> based on the not-to-exceed amount that was established by the Commission of$138,000. It <br /> also requires any prospective purchaser to locate in Ignition Park and use the equipment to <br /> 10 <br />