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South Bend Redevelopment Commission <br /> Regular Meeting—August 16, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Airport Economic Development Area <br /> (5) Real Estate Donation Agreement with Ivy <br /> Tech for 230 E. Sample Street (former <br /> Discount Rental) <br /> Mr. Relos noted that on May 08, 2012, the <br /> Commission authorized staff to move <br /> forward with the donation to Ivy Tech of the <br /> Discount Rental property, 230 E. Sample <br /> Street. With the Discount Rental property, <br /> Ivy Tech will be able to increase its parking, <br /> which is a critical and immediate need, and <br /> thereby hold additional classes at their <br /> ITOSS building next door. The attached <br /> Real Estate Donation Agreement will finalize <br /> this transaction, and allow the transfer of this <br /> property to Ivy Tech. Staff requests approval <br /> of the Real Estate Donation Agreement. <br /> Chancellor Tom Coley and Jim Jasiewicz <br /> thanked the Commission for its efforts on Ivy <br /> Tech's behalf. Ms. Jones and Mr. Downes <br /> wished them good luck. <br /> Upon a motion by Mr. Varner, seconded by COMMISSION APPROVED THE REAL ESTATE <br /> Mr. Downes and unanimously carried, the DONATION AGREEMENT WITH Ivy TECH FOR <br /> Commission approved the Real Estate 230 E. SAMPLE STREET(FORMER DISCOUNT <br /> Donation Agreement with Ivy Tech for 230 RENTAL. <br /> E. Sample Street(former Discount Rental). <br /> (6) Resolution No. 3060 approving the Fair <br /> Market Value of Property in the Airport <br /> Economic Development Area. (1017 W. <br /> Indiana Ave.) <br /> Mr. Relos noted that Resolution No. 3060 <br /> sets the fair market value for 1017 W. <br /> Indiana Ave. at $1,750, the average of two <br /> independent appraisals. Staff requests <br /> 20 <br />