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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –July 14, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />façade work. Ivy Tech will do the interior <br />rehab to turn these buildings into classrooms <br />and / or storage areas. Estimated acquisition <br />values for this area were done by Chris <br />Davey, a licensed realtor with Cressy <br />Everett, on Ivy Tech’s behalf. <br /> <br />The four properties are Discount Rental, at <br />230 E. Sample, Habitat for Humanity at 412 <br />E Sample, the Barbershop at 222 E Sample, <br />and New Hope Missionary Church at 313 E <br />Ohio St. The purchase of these properties <br />will allow Ivy Tech to consolidate programs <br />from various buildings, thereby freeing up <br />valuable classroom space for its ever <br />expanding enrollment and parking needs. <br /> <br />Ivy Tech also requests improvements to its <br />current building on Sample, which is in <br />desperate need of a new façade. <br /> <br />Estimated redevelopment costs for Area 1 are <br />$1.71 million. There could be additional <br />costs for the relocation of any on-going <br />businesses remaining in these buildings. <br /> <br />Estimated redevelopment costs for this area <br />include acquisition, demolition, façade <br />improvements, appraisals, surveys, title <br />work, environmental reports, etc. <br /> <br />Area 2 (Ignition Park – East) <br />The Airgas property at 914 S Lafayette is just <br />south of Hamilton Towing on the east side of <br />Lafayette. It is a pressurized tank filling <br />facility which is scheduled to close the end of <br /> 14 <br /> <br />