2. Minutes 1/15/10 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting -January 15, 2010 property in the Airport Economic Development Area. Ms. Kolata noted that several years ago the Commission and the city hired environmental legal counsel to pursue previous owners of Studebaker and Oliver properties for environmental damage to those properties. We have had a couple of settlements in the past. This one is related to the former Oliver property. The insurance companies are willing to pay the Commission an amount that has been approved by our legal department to settle the claim. There are remaining claims against other insurers, but this agreement only covers Century Indemnity and TIG. It also specifically states that it only covers the Oliver property. It does not cover anything in Studebaker. Staff requests approval of the settlement, subject to final legal review of the language in the agreement. The amount of the settlement is not public. When it arrives and is appropriated, the amount will be known. Upon a motion by Mr. Downes, seconded by Ms. King and unanimously carried, the Commission approved the Confidential Settlement Agreement and Release with Century Indemnity Company and TIG Insurance Company related to property in the Airport Economic Development Area. (4) Resolution No. 2641 related to acquisition of property in the Airport Economic Development Area (1506 S Taylor) Mr. Relos noted that 1506 S. Taylor St. was added to the Airport Economic Development Area Acquisition List by Resolution No. 2596 on August 26, 2009. It was added in an effort to clean and clear the southern COMMISSION APPROVED THE CONFIDENTIAL SETTLEMENT AGREEMENT AND RELEASE WITH CENTURY INDEMNITY COMPANY AND TIG INSURANCE COMPANY RELATED TO PROPERTY IN THE AIRPORT ECONOMIC DEVELOPMENT AREA 25