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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -July 14, ?009 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(1) continued... <br />The Commission cun-ently owns <br />approximately half of the land mass in this <br />area. The acquisitions in this area would <br />effect eleven property owners, two of which <br />own vacant lots; anothEr, who is the next <br />largest land owner in the area, has expressed <br />an interest in selling to the Commission if <br />final approval is granted. <br />Estimated redevelopment cost for these <br />properties is $1 million. <br />Estimated redevelopment costs for this area <br />include acquisition, demolition, relocation, <br />appraisals, surveys, title work, environmental <br />reports, etc. <br />(2) Resolution No. 2552 amending the Airport <br />Economic Development Area Development <br />Plan (Adding properties to the Acquisition <br />List) <br />Mr. Relos noted that following Commission <br />approval, the amendment to the Development <br />Plan must be approved by the Area Plan <br />Commission and Common Council, then <br />return to the Commission for public hearing <br />and continuing resolution. <br />Ms. Kin~~ said lvy Tech•s need for this <br />expansion stems from its great success as an <br />educational institution. To the extent that the <br />Redevelopment Commission can assist by <br />helping prepare land for e~:pansion. that"s <br />what we should be doing. Our participation <br />by doing facade improvements on the <br />16 <br />