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South Bend Redevelopment Commission <br />Regular Meeting — January 16, 2014 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(4) continued... <br />Mr. Varner noted that the precedence for this incentive was established a few years ago with <br />F Cubed. Speculative projects like this have the potential for big reward or big failure. He <br />would like the Commission in the future to try to secure an equity position for its investment <br />in the project. He asked the staff to research how that could be possible. We are missing an <br />opportunity if we don't look for a way. Lawyers can find a way when they want to. <br />Mr. Downes agreed and noted that Notre Dame is doing that at Innovation Park. We should <br />certainly look into the possibility. <br />Mr. Downes asked if Emu Solutions is expected to move to a multi- tenant building in <br />Ignition Park when one is built. Mr. Ford responded that they are expected to be a tenant in <br />one of the multi -tenant buildings, or locate somewhere in the Airport Economic <br />Development Area. <br />Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br />Commission authorized staff to prepare a development agreement including an incentive <br />that the Commission would purchase equipment for the project from AEDA TIF funds. The <br />actual development agreement will be brought back to the Commission for approval at a <br />later date. <br />C. West Washington - Chapin Development Area <br />D. South Side Development Area <br />E. Northeast Neighborhood Development Area <br />F. Douglas Road Development Area <br />G. Other <br />(1) Filing of Resolution No. 3197 appropriating monies from the Redevelopment General <br />Fund (Fund 433) for the purpose of paying for certain expenses incurred by the <br />Redevelopment Commission and setting a public hearing on Resolution No. 3197 for <br />9:30 a.m., February 13, 2014. <br />Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br />Commission accepted for filing Resolution No. 3197 appropriating monies from the <br />Redevelopment General Fund (Fund 433) for the purpose of paying for certain expenses] <br />10 <br />