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• <br />South Bend Redevelopment Authority <br />Special Meeting - June 26, 1992 <br />2. APPROVAL OF MINUTES (Cont.) <br />b. continued... <br />Upon a motion by Mr. Gammage, seconded by Mr. Fewell and <br />unanimously carried, the Authority approved the Minutes <br />of the Special Meeting of Tuesday, June 23, 1992. <br />3. NEW BUSINESS <br />a. Authority approval requested for agreement with Hurdzan <br />Golf Desictns for consulting services in the Airport <br />Economic Development Area. <br />Mrs. Kolata noted that all of the New Business items on <br />the agenda relate to the construction of a golf course in <br />the Airport Economic Development Area. They were all <br />explained at this time and action was taken later in the <br />meeting. <br />i• <br />Mayor Kernan noted that this action is a significant step <br />in the process of developing the Airport 2010 Project to <br />create jobs and increase tax base in South Bend. The <br />total Airport 2010 project involves construction of a <br />golf course near the airport, with corporate sites around <br />the golf course. It is one of only about half a dozen <br />such projects in the country. Improvements in the area <br />which add to the unique environment of the development <br />are the airport, the toll road, the U.S. 31 By-pass, and <br />the availability of Indiana Bell fiber-optics. <br />Mayor Kernan noted that the City has made or will be <br />making significant investment in public improvements in <br />the area. $6.5 million worth of TIF bonds were sold for <br />land acquisition and public works activities and $5.5 <br />mission of state funds are being spent on the realignment <br />of Nimtz Parkway, construction of the toll road access <br />ramps, and moving of I & M power lines. This project has <br />been described in Indianapolis as the prototype of what <br />an economic development project should look like. By <br />2010 we hope to build on the success of the Airport <br />Industrial Park which has become the area's largest <br />employer. We expect the project to encourage over $700 <br />million of private investment and the creation or <br />retention of 27,000 jobs, with $16.5 million per year in <br />additional tax base for the City. <br />The first phase of the project will be <br />Blackthorn Golf Course and the office <br />• surrounds it. We have tried to create <br />would be recognized as being the best <br />what is now called <br />campus that <br />a golf course that <br />in the <br />-2- <br />