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South Bend Redevelopment Commission <br />Regular Meeting -September 5, 2008 <br />6. NEW BUSINESS <br />C. Airport Economic Development Arca <br />6.6.(2) continued... <br />someone else. <br />Mr. Blake asked if we expect the property in <br />Studebaker Corridor to sell for about the <br />same price as land in Blackthorn. Mr. <br />Gibney responded that it will be appraised <br />and offered for the average of two appraisals <br />as is required by redevelopment law. <br />Developers will likely try to negotiate the <br />price. 1t will he a very competitive <br />environment. We'll have to compete for <br />those companies and those jobs with other <br />communities. <br />Mr. Blake asked if we've made projections <br />about the amount of tax revenue that could <br />be generated from this technology center. <br />Mr. Gibney responded that we have not yet. <br />We are trying to look at the other areas that <br />have these nanotechnology centers and learn <br />from them, but we are just getting started. <br />We will keep the Commission updated as we <br />learn from other parks in the country. <br />Mr. Varner asked if our relationship with <br />Notre Dame for development has been put <br />into a contract. Mr. Gibney responded that <br />the application for designation as and <br />funding Cor a cei~tifled technology park is <br />likely to be the only agreement that we will <br />have related to this. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2501 <br />approving and authorizing the execution of <br />COMMISSION APPROV~~ Resoi.u~noN No. 2501 <br />APPROVING AND Al,~l IIORIZING'PHF GXGCU~I'ION <br />OF AN AGLN~CY AGRGL'MI~;NT F3Y AND L31?'rWEGN <br />TI II' SOUII-1 B[ND R[iDLVI'I,OPMI'NT <br />COwIMISSION AND THC CITY OP SOUTi 1 I3FND, <br />13 <br />