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South Bend Redevelopment Commission <br />Regular Meeting -August 1, 2008 <br />A. South Bend Central Development Area <br />(9) continued... <br />Upon a motion by Mr. King, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission tabled Item 6.A(9) until further <br />notice. <br />B. Airport Economic Development Area <br />(1) Commission approval requested for <br />Resolution No. 2479 setting the fair reuse <br />value of land in the Airport Economic <br />Development Area. (Lot 5 Ameritech <br />Drive) <br />Mr. Leone noted that there is a Substitute <br />Resolution No. 2479 which includes the <br />amount of the offering price. <br />Mr. Witwer noted that Resolution No. 2479 <br />sets the offering price of Lot 5, Ameritech <br />Drive. Lot 5 is currently used for retention in <br />the Airport Economic Development Area. <br />Only about one third of the lot is actually <br />needed for retention. There have been three <br />parties interested in developing a portion of <br />the lot. Staff feels this would be a good time <br />to dispose of the unneeded portion. <br />Mr. Witwer noted that the offering price has <br />been set as the average of two independent <br />appraisers at $182,500. <br />Mr. Varner asked the size of the lot. Mr. <br />Witwer responded that it is 3.5 acres. <br />Mr. Varner asked if the offering price is <br />similar to the sale price of other retail land in <br />the area. Mr. Witwer said that it is. <br />COMMISSION TABLED ITEM 6.A(9~ UNTIL <br />FURTHER NOTICE <br />10 <br />