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South Bend Redevelopment Commission <br />Regular Meeting –July 24, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />C. Airport Economic Development Area <br /> <br />(1) continued… <br /> <br />Mr. Inks noted that the option to terminate is <br />subject to the Commission deciding to lease <br />or sell the golf course to another party. Staff <br />thought we would be in a position to move <br />ahead with soliciting bids for lease or sale at <br />the same time as bidding the management <br />agreement, but we are not. During the next <br />twelve months we will be going through the <br />steps to put the property up for sale or lease. <br />We didn’t want to lock ourselves into a long <br />term management agreement and preclude <br />selling the golf course if we had an <br />opportunity, so we structured it with this <br />option. <br /> <br />Mr. Downes asked how long Meadowbrook <br />has had the management agreement. Mr. <br />Inks responded they have had it since the <br />golf course opened in 1995. <br /> <br />Ms. King noted that the Commission is <br />fulfilling its fiduciary responsibility to bid <br />this contract out. It does not mean the <br />Commission is dissatisfied with <br />Meadowbrook. <br /> <br />Mr. Inks agreed, noting that, in fact, while <br />other golf courses have seen revenue fall in <br />the 2009 economy, Blackthorn revenues have <br />been higher than last year. We think <br />Meadowbrook is doing a good job with the <br />golf course, but it has a responsibility to bid <br />the contract out periodically. <br /> <br /> <br /> <br /> 7 <br /> <br />