2. Minutes 3/6/09 Meeting - Laserfiche WebLink

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South Bend Redevelopment Connnission Regular Meeting -March 6, 2009 6. NEW BUSINESS (CONT.) B. Other (1) continued... reimbursement. Redevelopment will not be taking title to the property. But we would be solely reimbursing the city for its right-of- way costs. The Auten Connector is part of the planned transportation improvements for Portage Prairie, a planned $300,000,000 private mixed use development. The South Bend Common Council has appropriated Major Moves funds for the acquisition of this property and has approved a specific acquisition by the Board of Public Works. Staff recommends approving the reimbursement of $300,000 to the City of South Bend, plus up to $50,000 of transaction costs. Mr. Inks noted that there is one major property owner. We are not ready to pursue any additional acquisition at this time on the Auten Connector, unless the property becomes available on the open market. We think there is need for further development of Portage Prairie before we would go ahead with the transportation plan. However, we would try to work with that property owner as much as possible as we get ready to put the road through. We also realize there is an historic property at the intersection of Portage and Auten. We would expect to avoid that property as we do the road project. Upon a motion by Mr. Downes, seconded by Ms. King and unanimously carried, the Commission approved Resolution No. ?570 authorizing the use of certain tax increment revenues for the reimbursement of the South 13 COMMISSION APPROVED RESOLUTION NO. 2570 AUTHORIZING THE USE OF CERTAIN TAX INCREMENT REVENUES FOR THE REIMBURSEMENT OF THE SOUTH BEND MAJOR MOVES FUND. (AUTEN ROAD CONNECTOR PROJECT, S 1270 MAYFLOWER RD)