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South Bend Redevelopment Commission <br /> Regular Meeting—July 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> D. Airport Economic Development Area <br /> (3) continued... <br /> town are ahead of us and Data Realty is very <br /> excited about being a small part of the <br /> opportunity to transform that corridor. <br /> Staff recommends approval of this project at <br /> a cost to the city of$2,500,000, keeping in <br /> mind that the anticipated taxes and rack <br /> space value exceed that amount. <br /> Mr. Varner questioned the rack space and <br /> whether it would be leased by the City of <br /> South Bend or by Data Realty. Ms. <br /> Hathaway responded that it will be free to the <br /> city. She added that five racks is a great <br /> amount of space. <br /> Mr. Carlton added that the thought behind <br /> that was that the racks could be for the city's <br /> use or, more importantly, as an incentive <br /> secure other tenants for the park. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE FUNDING FOR <br /> Ms. King and unanimously carried the PROVISIONS CONTAINED IN THE CONTRACT FOR <br /> Commission approved the funding for PURCHASE AND SALE OF IGNITION PARK 21VD <br /> MINOR SUBDIVISION LOT#4 IN THE AMOUNT OF <br /> provisions contained in the Contract for $2,500,000 <br /> Purchase and Sale of Ignition Park 2nd Minor <br /> Subdivision Lot#4 in the amount of <br /> $2,500,000. <br /> (4) Contract for Purchase and Sale of Ignition <br /> Park 2nd Minor Subdivision Lot#4 to Data <br /> Realty Northern Indiana, LLC. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE CONTRACT FOR <br /> Ms. King and unanimously carried, the PURCHASE AND SALE OF IGNITION PARK 2ND <br /> Commission approved the Contract for MINOR SUBDIVISION LOT#4 To DATA REALTY <br /> NORTHERN INDIANA,LLC <br /> 21 <br />