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• South Bend Redevelopment Authority <br />Regular Meeting -June 7, 1994 <br />c. continued... <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, the Authority approved the Assignment of Lease Agreement with the <br />Redevelopment Commission (Century Center). <br />d. Authori~ approval requested for Proposal from Economics Research <br />Associates for professional services in the A~port Economic Development <br />Area.. <br />-Mrs. Kolata stated that the Redevelopment Authority has received a proposal <br />from Economic Research Associates, who did the market study for the Hall of <br />Fame Museum and have also done work for the Redevelopment Commission <br />for the Studebaker Museum. We and Venterra, the group that the Authority <br />hired to market the Hotel Site in the Blackthorn Corporate Park, have asked <br />Economic Research Associates to go back and look at the hotel demand <br />analysis. Any type of market information we have is quite old, so we asked <br />ERA for a proposal to do a report/pro-forma/financial analysis. Their fee is <br />$17,500.00 and would cover all expenses. They expect they would have the <br />final report within eight weeks and maybe even a little bit sooner than that. <br />Upon a motion by Ms. Ferlic, seconded by Mr. Gammage and unanimously <br />carried, the Authority approved the proposal from Economics Research <br />Associates for professional services in the Airport Economic Development <br />Area. <br />e. Authori.~ authorization requested to sign tax abatement petition on behalf of <br />Crystal Mountain Water. <br />Mrs. Kolata explained that this is land in the Toll Road Industrial Park near <br />where Tech Data and Midwest Embroidery are going to build. Crystal <br />Mountain Water is a bottler of distilled water. They are going to construct a <br />17,000 s.f. building before the end of this year. They currently employ 30 <br />people, and expect to hire up to 10 additional employees. They are eligible <br />for a three year abatement. The Redevelopment Commission has agreed to <br />sell them the land. Crystal Mountain Water wants to apply for tax abatement, <br />and as the owner of the property, the Redevelopment Authority needs to sign <br />the tax abatement petition. Closing should be within the next 30 days. <br />-4- <br />