2 Minutes 5-30-13 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting — Thursday, May 30, 2013 6. NEW BUSINESS C. Airport Economic Development Area (1) continued... This is the final insurance recovery claim that we have related to the Studebaker /Oliver project which began in 1999 with the writing and approval of the Studebaker /Oliver Development Plan. Implementation of that plan began in 2000. I am preparing a final report on the project and will have that ready to present at your July 25 meeting. This will include information on the total amount of insurance settlements we have received. Upon a motion by Mr. Varner, seconded by Mr. Inks and unanimously carried, the Commission approved the Confidential Settlement Agreement with the Continental Casualty Company and the Continental Insurance Company concerning the former Oliver Plow property. (2) Resolution No. 3141 Related to Acquisition of Property in the Airport Economic Development Area (725 W. Indiana) Mr. Relos noted that Resolution No. 3141 sets the offering price for the acquisition of 725 W. Indiana. This property was added to the Airport Economic Development Area's Acquisition List by Resolution No. 2668 on May 21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition Park, and to help stabilize the Rum Village neighborhood to the south. This is a commercial property that contains 3 lots and a building. Resolution No. 3141 sets the acquisition value of the property at $51,500. The acquisition value is the average value as determined by two independent appraisals. Staff requests approval of Resolution No. 3141, to allow the acquisition of this property to proceed. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved Resolution No. 3141 Related to Acquisition of Property in the Airport Economic Development Area (725 W. Indiana). (3) Resolution No. 3142 Related to Acquisition of Property in the Airport Economic Development Area (1505 S. Kendall) Mr. Relos noted that Resolution No. 3142 sets the offering price the acquisition of 1505 S. Kendall. This property was added to the Airport Economic Development Area's Acquisition List by Resolution No. 2668 on May 21, 2010. It was added in an effort to clean and clear the southern boundary of Ignition Park, and to help stabilize the Rum Village neighborhood to the south. This is a commercial property that contains 2 lots and a building. Resolution No. 3142 sets the acquisition value of the property at $26,250. The acquisition value is the average value 10