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6 CW •,�,, o Community & Economic Development 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: Redevelopment Commissioners From: Matthew Sikora, Economic Development Planner�� Subject: Staff Memo & Declaratory Resolution No. 2950 Date: October 25, 2011 On October 11, 2011, the Commission authorized staff to conduct surveys, investigations, and thoroughly study the Airport Economic Development Area (AEDA). This process included the gathering of information on parcels to be added, and an estimation of costs associated with their acquisition and redevelopment. Attached to this memorandum for consideration is Resolution No. 2950, a Declaratory Resolution to amend the AEDA. This resolution begins the process of amending the Development Plan to allow for the acquisition of the properties located at 401 North Bendix and the 1300 block of South Michigan Street. The properties have been assessed and their potential acquisition found to be consistent with the goals and objectives of the Airport Economic Development Area Development Plan. The parcel located at 401 N Bendix is adjacent to the Bosch complex and currently owned by Honeywell, Inc. The ability to add this parcel would allow for the broadening of development possibilities at the exiting Bosch site as we look to future users and potential plans for expansion. The additional three parcels are located at the 1300 block of South Michigan Street. This is an area in which the city owns a number of individual parcels within the block, and acquisition of the sites (outlined in black on the second attached map) would allow for better site control and a more developable /marketable site. The expected cost for the acquisition and improvements to these properties is approximately $500,000. Approval of this Resolution does not commit the Redevelopment Commission to acquire and improve the properties at this amount. Upon approval by the Commission, resolutions will be put before the Area Plan Commission and Common Council for their approval, before a Public Hearing and Confirming Resolution would be presented to the Commission for final approval. Approval for advertising for the Public Hearing is also requested of the Commission. Advertising would be done after approval from the Common Council is granted. Staff believes it would be of public utility and benefit to amend the Development Plan by adding these properties to the acquisition list to allow for their potential acquisition. Staff requests Commission approval of Resolution No. 2950, and the necessary advertising to carry it forward. What We Do Today Makes A Difference!