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G" b r �pli�iiC7 n 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 Commission From: David Relos, Economic Development Planner Subject: Update: Ignition Park South Expansion Date: November 8, 2011 On May 21, 2010, the Commission approved Confirming Resolution No. 2668, which added 136 parcels in this target area to the acquisition list of the Airport Economic Development Area. Previously, on August 26, 2009, the Commission approved Confirming Resolution No. 2596, which added14 parcels to this same area. These two resolutions added a total of 150 parcels on the north side of Indiana Avenue, between Franklin St on the east and Prairie Ave on the west, now known as the Ignition Park South Expansion Area. Of these 150 parcels, 21 were already owned by the City, 20 were acquired at the March 2010 tax sale, and seven are rail road owned. As of today, 103 parcels are under City control, 29 are in a negotiating status, one was recently purchased at the September 2011 tax sale, and 10 have either stated they do not want to sell, or are in some other status with the department. For comparison purposes, as of the last update to the Commission 14 months ago, 66 parcels were under City ownership. To date, total acquisition and relocation costs have been $2,193,965, compared to $3,999,500 that had been budgeted for these parcels ($1,805,535 savings or 45% under budget). Though much work remains, staff wishes to thank the Commission for the approvals necessary to carry out this project. It will expand Ignition Park by an additional 23 acres, and help stabilize the Rum Village neighborhood to the immediate south of this planning area. What We Do Today Makes A Difference!