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South Bend Redevelopment Commission <br />Regular Meeting –April 3, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. Airport Economic Development Area <br /> <br />(3) continued… <br /> <br />Mr. Inks asked that item 6.B.(3) be tabled. <br /> <br />CRN.2575 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION TABLED ESOLUTION O <br />A17,2009 <br />UNTIL THE PRIL MEETING <br />Mr. Alford and unanimously carried, the <br />Commission tabled Resolution No. 2575 <br />until the April 17, 2009 meeting. <br /> <br /> <br />(4) Resolution No. 2576 approving and <br />accepting a counter offer for the <br />acquisition of property in the AEDA. <br />(1200 blk S. Franklin) <br /> <br />Mr. Inks asked that item 6.B.(4) be tabled. <br /> <br />CRN.2576 <br />Upon a motion by Ms. King, seconded by <br />OMMISSION TABLED ESOLUTION O <br />A17,2009 <br />UNTIL THE PRIL MEETING <br />Mr. Alford and unanimously carried, the <br />Commission tabled Resolution No. 2576 <br />until the April 17, 2009 meeting. <br /> <br /> <br />(5) Real Estate Purchase and Site Work <br />Agreement with the 1100 Corporation and <br />the City of South Bend. <br /> <br />Ms. Kolata noted that the property to be <br />purchased by the Commission is 1100 Prairie <br />Avenue, the former Studebaker Foundry. <br />The building contains approximately 450,000 <br />square feet and is located on 19.19 acres. <br />The property owner is The 1100 Corporation <br />– Don Nuner is the principal of this <br />corporation. Underground Pipe & Valve, <br />Inc. is the tenant. <br /> <br />Terms of Purchase: <br /> <br />? <br /> <br />Commission will purchase the property <br />for $1,625,000 with a credit of $129,560 <br /> 8 <br /> <br />