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South Bend Redevelopment Commission <br /> Regular Meeting—August 28, 2014 <br /> • 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (3) continued... <br /> half of the estimated$5M in CTP proceeds to support both Innovation Park and Ignition <br /> Park. Given the extraordinary need of the Turbo Project in Ignition Park,Notre Dame and <br /> the City have agreed that an additional $700,000 of CTP funds will be used by the City to <br /> support the project. So,this agreement amends the original terms from a maximum of <br /> $2,5M to be spent by the City to a maximum of$3.2M. <br /> Upon motion by Ms. Schey, seconded by Mr. Downes and unanimously carried,the <br /> Commission approved the Amendment to the Memorandum of Understanding with the City <br /> of South Bend and the University of Notre Dame du Lac related to revenues from the <br /> Certified Technology Park. <br /> Dr. Varner asked how much of the $3.2M remains for expenditure. Mr. Fielding responded <br /> all of the funds remain as nothing has been spent from this fund yet. <br /> D. West Washington-Chapin Development Area <br /> • There was no business in the West Washington-Chapin Development Area <br /> E. South Side Development Area <br /> (1) Resolution 3227 designating and declaring a certain area as a redevelopment area for <br /> the purpose of amending the boundaries of the South Side Development Area and its <br /> Allocation Area and to amend the Development Plan for the South Side Development <br /> Area <br /> Consideration of Resolution No.3229—Upon motion by Mr. Downes, seconded by Mr. Inks <br /> and a majority approval,the Commission approved Resolution No. 3229 designating and <br /> declaring a certain area as a redevelopment area for the purpose of amending the boundaries <br /> of the South Side Development Area and its Allocation Area and to amend the Development <br /> Plan for the South Side Development Area. Ms. Schey cast a dissenting vote stating that it is <br /> because the geographic area of the TIF has increased. She looks forward to the continuing <br /> discussion on the matter and may change her mind at her later opportunities to vote on the <br /> issue. <br /> (2) Resolution 3226 approving and authorizing the execution of an Amendment to the <br /> Addendum to the Master Agency Agreement(Michigan & Chippewa Intersection <br /> Modification Project) <br /> • <br /> 10 <br />