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South Bend Redevelopment Commission <br /> Regular Meeting—September 13, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> C. Airport Economic Development Area <br /> (1) continued... <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.2939 <br /> Mr. Varner and unanimously carried, the PLEDGING CERTAIN TAX INCREMENT REVENUES <br /> Commission approved Resolution No. 2939 ON A SUBORDINATE BASIS TO THE PAYMENT OF <br /> CERTAIN CITY OF SOUTH BEND,INDIANA <br /> pledging certain tax increment revenues on a ECONOMIC DEVELOPMENT REVENUE BONDS <br /> subordinate basis to the payment of certain EXPECTED TO BE ISSUED FOR THE SOUTH BEND <br /> City of South Bend, Indiana Economic CAREER ACADEMY PROJECT FOR A TOTAL OF <br /> Development Revenue Bonds expected to be $1.5 MILLION TO BE PAID OVER THREE YEARS. <br /> issued for the South Bend Career Academy <br /> project for a total of$1.5 million to be paid <br /> over three years. <br /> (2) 2"d Amendment to Listing Agreement with <br /> CB Richard Ellis for the Hotel LaSalle and <br /> the vacant lot at Colfax and Hill Streets. <br /> Mr. Relos noted the Commission currently <br /> has a Listing Agreement with CB Richard <br /> Ellis to market the LaSalle Hotel and the <br /> vacant lot at Colfax and Hill Streets. In this <br /> challenging real estate market, staff believes <br /> CBRE is doing a good job marketing these <br /> two properties. We would like to extend it <br /> to August 31, 2012. <br /> Upon a motion by Ms. King, seconded by COMMISSION APPROVED 21VD AMENDMENT TO <br /> Mr. Downes and unanimously carried, the LISTING AGREEMENT WITH CB RICHARD ELLIS <br /> Commission approved the 2nd Amendment to FOR HOTEL LASALLE AND THE VACANT LOT AT <br /> COLFAX AND HILL STREETS. <br /> Listing Agreement with CB Richard Ellis for <br /> the Hotel LaSalle and the vacant lot at Colfax <br /> and Hill Streets. <br /> (3) Staff report on final relocation costs for <br /> Sinco Pool. <br /> Mr. Relos noted that on November 2, 2010, <br /> the Commission authorized the acquisition of <br /> 19 <br />