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South Bend Redevelopment Commission <br />Regular Meeting —April 16, 2004 <br />6. NEW BUSINESS <br />E. Airport Economic Development Area <br />(7) continued... <br />Mr. Hunt commented that a motion can be <br />made to approve the concept of the project <br />with the final price to be negotiated, but no <br />ground breaking can take place until <br />Commission acceptance and approval of the <br />price. <br />Ms. Greene clarified that the Commission <br />has several options. First, the item can be <br />tabled until the next meeting if the <br />Commission requires more information. <br />Second, the Commission can approve the <br />concept with price to be negotiated, which <br />will also require Commission approval at a <br />separate meeting. Third, having heard <br />evidence and factors submitted by the <br />developer, the Commission may approve the <br />project at a final sale price of $55,000 per <br />acre. Lastly, the project can be rejected in <br />its entirety. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Kahn and unanimously carried, the <br />Commission approved the concept of a <br />development project by Crescent Michiana <br />Properties III in the Airport Economic <br />Development Area subject to final property <br />price negotiations. (Lot 40, Blackthorn <br />Corporate Office Park) <br />(6) Commission approval requested for <br />Contract for Sale of Land for Private <br />Development between the South Bend <br />Redevelopment Commission and The <br />Woodwind & The Brasswind. (Parcels <br />IL 9B & 13B, U.S. 31 Industrial Park) <br />11 <br />COMMISSION APPROVED THE CONCEPT OF A <br />DEVELOPMENT PROJECT BY CRESCENT <br />MICHIANA PROPERTIES III IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA SUBJECT TO <br />FINAL PROPERTY PRICE NEGOTIATIONS. (LOT 40, <br />BLACKTHORN CORPORATE OFFICE PARK) <br />