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South Bend Redevelopment Commission <br />Regular Meeting –May 1, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />B. Airport Economic Development Area <br /> <br />(4) continued… <br /> <br />Mr. Schalliol noted that Ziolkowski has <br />submitted a counter offer of $910,800. That <br />is consistent with other land prices paid for <br />other properties in the area. Ziolkowski’s <br />relocation to the former PEI Genesis building <br />will require some relocation expenses, <br />estimated at $900,000, but will forego <br />applying for real property tax abatement on <br />the project. They may wish to apply for <br />personal property abatement. <br /> <br />Staff requests approval of Resolution <br />No. 2582 and authorization to spend up to <br />$900,000 in relocation benefits for the move. <br /> <br />Mr. Varner said he did not see the need to <br />keep spending money on Ignition Park when <br />we have no indication yet that it will be <br />needed. <br /> <br />Ms. Jones said she understands Mr. Varner’s <br />objection, but thinks there are benefits that <br />help to offset those concerns. Ziolkowski’s <br />move to and the making of improvements to <br />a new building will generate more taxes than <br />they are currently paying Sample Street. <br />Plus she feels that clearing the Sample Street <br />site looks better to anyone considering <br />moving into Ignition Park. <br /> <br />Ms. King added her support for moving <br />ahead now, saying we have a negotiated <br />price and a building for Ziolkowski’s reuse, <br />which might not be the case later. <br /> <br /> <br /> 7 <br /> <br />