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South Bend Redevelopment Commission <br /> Regular Meeting—August 9, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (2) continued... <br /> Addendum to the Master Agency Agreement <br /> and additional funding for title work and <br /> environmental work, if necessary, for a total <br /> project budget amount not to exceed <br /> $15,000. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED RESOLUTION No.2916 <br /> Mr. Downes and unanimously carried, the APPROVING AN ADDENDUM TO THE MASTER <br /> Commission approved Resolution No. 2916 AGENCY AGREEMENT(FIRE STATION#5- <br /> PREDEVELOPMENT)TOTALING PROJECT BUDGET <br /> approving an Addendum to the Master AMOUNT NOT TO EXCEED$15,000. <br /> Agency Agreement (Fire Station#5 — <br /> Predevelopment)totaling project budget <br /> amount not to exceed $15,000. <br /> (3) Resolution No. 2924 related to acquisition <br /> of property in the Airport Economic <br /> Development Area (1520— 1526 S. Chapin <br /> Street). <br /> Mr. Relos noted that 1520 - 1526 S. Chapin <br /> St. was added to the Airport Economic <br /> Development Area Acquisition List by <br /> Resolution No. 2668 on May 21, 2010. The <br /> property contains a cement block machine <br /> shop on two parcels of land. The shop is <br /> approximately 1,700 square feet, has 200 <br /> amp electrical service, and contains a <br /> bathroom with shower. The majority of this <br /> building, approximately 1,300 square feet, <br /> was added on in 1988. Resolution No. 2924 <br /> sets the acquisition value of the property at <br /> $18,950, the average of two independent <br /> appraisals. Staff requests approval of <br /> Resolution No. 2924. <br /> 20 <br />