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South Bend Redevelopment Authority <br />Regular Meeting -November 4, 1993 <br />3. NEW BUSINESS (Cont.) <br />d. Authority authorization requested to sign Petition in support of the <br />establishment of Improvement District. <br />Mr. Riggs showed a map of the boundaries of the proposed Improvement <br />District. The Industrial Foundation contacted us about establishing an <br />Economic Improvement District in the Airport Industrial Park and the Toll <br />Road Industrial Park. An Improvement District will allow the businesses in <br />the area to take over the role of covenant enforcement. The Redevelopment <br />Authority owns five parcels of land in the Toll Road Industrial Park; therefore, <br />the Authority, as landowner, must sign the petition to show its approval of the <br />establishment of the improvement district. <br />Mrs. Kolata noted that the staff has met with other property owners in the <br />proposed district. There are other property owners who are interested in <br />establishing this district. We don't know if the petition drive will be <br />successful, but we think it is to everyone's advantage that there be a strong <br />• business organization operating in the area. <br />Upon a motion by Mr. Fewell, seconded by Mr. Wroblewski and unanimously <br />carried, the Authority authorized signing a Petition in support of the <br />establishment of an Economic Improvement District. <br />e. Authori~r approval reauested for Contract for Sale of Land for Private <br />Redevelopment with Watseka Corporation. <br />Mrs. Kolata explained that one of the properties the Redevelopment Authority <br />bought through the bond process has been leased to the Commission which put <br />it up for sale. The property is located at 611 S. Clinton. The Commission <br />received a proposal for the property. <br />Mr Eddington explained that the Watseka Theater Corporation has proposed to <br />purchase the property for $1.00 and renovate the house for the single family <br />residence of its principle. The house is in extremely bad condition. It has <br />been on a Code Enforcement repair list for a number of years. The renovation <br />will cost them approximately $50,000. They will paint and repair the exterior, <br />replace the windows and doors, put in a new kitchen, etc. We have asked that <br />they begin renovation on the exterior and complete the renovation within <br />twelve months. They have agreed to our design guidelines and timetable. The <br />staff recommends accepting their proposal. <br /> <br />-7- <br />