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South Bend Redevelopment Commission <br /> Regular Meeting—August 23, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Airport Economic Development Area <br /> (1) continued... <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED RESOLUTION No.2935 <br /> Mr. Alford and unanimously carried, the SETTING A PUBLIC HEARING ON THE <br /> Commission approved Resolution No. 293 5 APPROPRIATION OF TAX INCREMENT FINANCING <br /> REVENUES FROM THE AIRPORT ECONOMIC <br /> setting a Public Hearing on the appropriation DEVELOPMENT ALLOCATION AREA WITH A <br /> of tax increment financing revenues from the TARGET DATE OF SEPTEMBER 13,2011. <br /> Airport Economic Development Allocation <br /> Area with a target date of September 13, <br /> 2011. <br /> (2) Resolution No. 2928 related to acquisition <br /> of property in the Airport Economic <br /> Development Area (1527 S. Kemble). <br /> Mr. Relos noted that 1527 S. Kemble was <br /> added to the Airport Economic Development <br /> Area Acquisition List by Resolution <br /> No. 2668 on May 21, 2010 in an effort to <br /> clean and clear the southern boundary of <br /> Ignition Park, and to help stabilize the Rum <br /> Village neighborhood to the south. This <br /> particular property is a two story rental with <br /> three units. Total square footage is 1,932. <br /> All three units are one bedroom, one bath. <br /> All units are currently leased. <br /> Resolution No. 2928 sets the acquisition <br /> value of the property at $32,000, the average <br /> value as determined by two independent <br /> appraisals. Staff requests approval of <br /> Resolution No. 2928. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED RESOLUTION No.2928 <br /> Mr. Alford and unanimously carried, the RELATED TO ACQUISITION OF PROPERTY IN THE <br /> Commission approved Resolution No. 2928 AIRPORT ECONOMIC DEVELOPMENT AREA <br /> related to acquisition of property in the (1527 S.KEMBLE) <br /> Airport Economic Development Area (1527 <br /> S. Kemble). <br /> 11 <br />