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South Bend Redevelopment Commission <br />Regular Meeting -November 7, 2008 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(8) continued... <br />market to come back a little, but then the rate <br />was 5.6%. <br />Ms. Jones credited bond counsel with getting <br />this bond sold before the 90-day time limit <br />that would have necessitated starting the <br />process over. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried, the <br />Commission approved Resolution No. 2525 <br />approving of the execution of an Addendum <br />to the Second Addendum to Lease between <br />the South Bend Redevelopment Commission <br />for the Century Center Project and <br />establishing certain funds and accounts <br />relating to the payment of the rentals <br />therefore. <br />D. Airport Economic Development Area <br />(1) Resolution No. 2520 related to acquisition <br />of property in the Airport Economic <br />Development Area. (1320 Franklin) <br />Mr. Witwer noted that 1320 Franklin is <br />required for the Transpo site. Resolution <br />No. 2520 sets the offering price at $26,000, <br />the average of two independent appraisals. <br />The property owners are Jerry and Diane <br />Graf. <br />Upon a motion by Mr. Blake, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2520 <br />related to acquisition of property in the <br />COMMISSION APPROVED RESOLUTION NO. 2525 <br />APPROVING OF THE EXECUTION OF AN <br />ADDENDUM TO THE SECOND ADDENDUM TO <br />LEASE BETWEEN THE SOUTH BEND <br />REDEVELOPMENT COMMISSION FOR THE <br />CENTURY CENTER PROJECT AND ESTABLISHING <br />CERTAIN FUNDS AND ACCOUNTS RELATING TO <br />THE PAYMENT OF THE RENTALS THEREFORE <br />COMMISSION APPROVED RESOLUTION NO. 2520 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(1320 FRANxLIN) <br />14 <br />