6C(1) Staff report on adding properties to AEDA Acquisition List

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(D) Lists of the owners of the various parcels of property proposed to be acquired for, or otherwise affected by, the establishment of an area or the amendment of the resolution or plan for an existing area; and an estimate of the costs, if any, to be incurred for the acquisition and redevelopment of property. Staff would request that the Commission direct staff to develop the appropriate documentation to add the following 3 specific target areas to the acquisition list for the AEDA (see attached map): Area 1 (Ivy Tech Campus Expansion Area) This area is in the 200 - 400 blocks of East Sample Street near the Ivy Tech campus, and on either side of the new Ivy Tech administrative offices. There are four properties which would be acquired and eventually transferred to Ivy Tech for their much needed expansion of classrooms, storage, and parking. This would be a joint effort between the Redevelopment Commission and Ivy Tech, whereby the Redevelopment Commission would purchase and do certain demo /facade work, and Ivy Tech would do the necessary interior work to make these buildings classroom ready. Area 2 (Ignition Park -Main Campus) This is the Airgas property, 914 S Lafayette, which is a pressurized tank filling facility located to the south of Hamilton Towing, on the east side of Lafayette. Airgas is in the process of moving this facility to Elkhart, and this purchase, along with Hamilton Towing, would further ready this area on the fringe of Ignition Park for future development. Area 3 (Ignition Park -South Expansion) This area is north of Indiana Avenue, between Franklin and Taylor streets. As far back as 1971, Indiana Avenue was identified as the logical southern boundary for the redevelopment of the Studebaker Corridor. In the 1995 Rum Village Neighborhood Action Plan, the area north of Indiana and south of the rail road tracks, between Franklin and Prairie, was identified as "weak residential", and it was suggested this area be redeveloped as a business park. The addition of these parcels for acquisition will be a first step in the long overdue redevelopment of this area. With the purchase of the Burton properties (Waste Management) at the end of last year, the Commission already owns more than half of the land mass within this area. The acquisitions within this area would effect 11 property owners, two of which are vacant lots, and another who has expressed an interest in selling to the Commission if final approval is granted. Staff requests Commission approval to begin the process of adding these three specific target areas to the acquisition list of the AEDA's Development Plan. Memo To RC to begin process.doc What We Do Today Makes A Difference!