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South Bend Redevelopment Commission <br /> Regular Meeting—October 16, 2014 <br /> 6. NEW BUSINESS (CONT.) <br /> A. Airport Economic Development Area <br /> (1) continued... <br /> Program for the broader Studebaker/Ignition Park site. Union Station will be making a <br /> payback to the Airport TIF, so the TIF will be replenished. <br /> Mr. Downes asked if the original estimate for demolition and remediation of Building #84 <br /> wasn't about $6M. Mr. Zeeb agreed that it was about $6.5M. We are OK on the budget <br /> we originally set for this project. He assumes there will be some soil sampling and ground <br /> water remediation needed, but the total cost should come in at about $4.5M. <br /> Mr. Downes asked if costs escalate and the funds earmarked for this demo and remediation <br /> exceed the $6.5M, could we tap the settlement funds. Mr. Zeeb agreed that we could. The <br /> Volunteer Remediation Program (VRP) is moving forward and we anticipate receiving <br /> what is called a"Covenant Not To Sue" from IDEM and the FDA. Once we get that it <br /> will calm the fears of developers in Ignition Park because the Covenant Not To Sue will <br /> transfer with the land whenever it is sold, unlike the Comfort Letter which only belongs to <br /> the developer it was issued to. We expect it to take another two years for the VRP to be <br /> approved. <br /> Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br /> Commission approved additional funding in the amount of$475,000 for the Environmental <br /> Indemnity Agreement for Studebaker Building #84. <br /> (2) Subdivision of Lot 4A at Blackthorn Corporate Park(Sullivan Properties) <br /> Mr. Relos noted that the owner of Lot 4A in Blackthorn Corporate Office Park, Sullivan <br /> Properties, has requested they be allowed to subdivide their 2.07 acre lot into two one-acre <br /> lots. Sullivan's property has two buildings with the addresses of 6101 and 6001 Nimtz <br /> Parkway. The subdivision will allow 6101 Nimtz to be sold to a locally owned company <br /> that currently has two out-of-the-area regional offices and wishes to consolidate these <br /> offices to form a national office in South Bend. The Blackthorn Corporate Park Covenants <br /> stipulate that no lot shall be subdivided unless approved by the Commission and that lots <br /> shall not be less than two acres, except where designated. Lot 4A is not in the section <br /> requiring 2 acres, though it abuts that section. The Blackthorn Owners Association <br /> members replied by e-mail that they were in favor of allowing the subdivision. Staff <br /> requests approval. <br /> Mr. Downes noted that the Commission still owns more than 50% of the land in <br /> Blackthorn Corporate Park, so it could approve this unilaterally, but he would rather have <br /> the backing of the Owners Association. <br /> 11 <br /> 1 <br />