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South Bend Redevelopment Commission <br />Regular Meeting –March 20, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />Ms. Kolata noted that once the property has <br />been purchased by 3 G Properties, the <br />building will be expanded by approximately <br />9,000 square feet and River Bend Hose will <br />be able to expand its business and <br />consolidate some of its operations into the <br />building. They will also continue to operate <br />out of their main location at 1111 S. Main <br />Street. <br /> <br />Ms. Kolata noted that legal counsel is still <br />reviewing one item in the agreements, so <br />approval should be given subject to final <br />legal review. <br /> <br />CE <br />Upon a motion by Ms. King, seconded by <br />OMMISSION APPROVED THE NVIRONMENTAL <br />TRA3G <br />ESTING AND EMOVAL GREEMENT WITH <br />Mr. Varner and unanimously carried, the <br />P, <br />ROPERTIES PENDING FINAL LEGAL REVIEW <br />Commission approved the Environmental <br />(700S.L) <br /> AFAYETTE <br />Testing and Removal Agreement with 3 G <br />Properties, pending final legal review. (700 <br />S. Lafayette) <br /> <br /> <br />(2) Environmental Indemnity Agreement with <br />3 G Properties (700 S. Lafayette) <br /> <br />Ms. Kolata noted that the purchase <br />agreement is also contingent on the <br />Commission approving an Environmental <br />Indemnity Agreement with 3 G Properties. <br />Our original transaction with Design <br />Packaging included an Environmental <br />Indemnity Agreement that lasted for ten <br />years. This was amended to add Tecumseh <br />Corrugated Cardboard Company and <br />extended for an additional five years. The <br />Environmental Indemnity Agreement with 3 <br /> 9 <br /> <br />