Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting —June 14, 2011 <br />extend Olive Road from Brick to Adams. A <br />right -of -way is needed through Adams Road <br />Estates, owned by Steve Cooreman. The <br />right -of -way will be 100' wide and roughly <br />2700' in length. The total purchase price for <br />the right -of -way is $271,073.50 including all <br />closing costs. The purchase will be handled <br />through an Addendum to the Agency <br />Agreement we have with the Board of Public <br />Works. Staff recommends approval of the <br />Addendum. <br />Mr. Varner questioned the timeline for <br />completing the road. Mr. Schalliol answered <br />that the city is acquiring the right -of -way and <br />completing constructions plans up to 60% so <br />that when an interchange is built at Adams <br />Road, we'll have the land corridor necessary. <br />Mr. Varner asked what if the interchange is <br />never built. Mr. Schalliol responded that <br />won't extend Olive Rd if the interchange is <br />never built. <br />Mr. Inks said that construction of the <br />interchange is dependent on development. <br />With some major projects there is enough <br />lead time to get state involvement for funding <br />for the interchange. That's where the state is <br />now. The Indiana Economic Development <br />Corporation has looked at this, expressed <br />interest, but said until we have a project with <br />significant investment and jobs, they're not <br />going to put any money in. So, at this point, <br />we're waiting for that significant project. <br />Upon a motion by Mr. Varner, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved Resolution No. 2891 <br />approving and authorizing the execution of <br />an Addendum to the Master Agency <br />Agreement (Adams Road Estates Land <br />43 <br />COMMISSION APPROVED RESOLUTION NO. 2891 <br />APPROVING AND AUTHORIZING THE EXECUTION <br />OF AN ADDENDUM TO THE MASTER AGENCY <br />AGREEMENT (ADAMS ROAD ESTATES LAND <br />PURCHASE <br />