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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -June 25, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />(1) continued... <br />Mr. Witwer noted that Resolution No. 2456 <br />will expand the boundaries of the Airport <br />Economic Development Area to add <br />approximately 300 acres, commonly referred <br />to as Portage Prairie, to the northwest portion <br />of the development area; the resolution also <br />adds properties to the acquisition list to <br />further one of our priorities, the Studebaker <br />Corridor nanotechnology area. <br />Mr. Witwer noted that with a previous <br />expansion, about 120 acres of Portage Prairie <br />were added to the development area, on <br />which the city extended Dylan Drive and <br />Holladay Corporation built a 150,000 <br />sftbuilding, the Huron Building. This <br />expansion is to provide the opportunity for <br />infrastructure to support development the rest <br />of the build-out for Portage Prairie. <br />Mr. Inks noted that Resolution No. 2456 <br />comes before the Commission at this time <br />because of changes in state law, in particular <br />House Enrolled Act 1001. Under that bill, <br />after July 1, 2008, the procedure for <br />expanding a development area changes. The <br />new procedures would require a local finding <br />by the Redevelopment Commission that the <br />Airport Economic Development Area could <br />not meet its obligations. With that finding, <br />the Commission could expand its boundaries <br />of the Airport Economic Development Area <br />(AEDA). We do not believe it will be <br />possible to make that finding. The AEDA <br />has a strong stream of revenue. Even after <br />accounting for the circuit breaker, it will <br />7 <br />