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• " J <br />South Bend Redevelopment Commission <br />Regular Meeting - November 21, 1997 <br />6. NEW BUSINESS (CONT.) <br />v. continued.... <br />Mrs. Kolata explained that this Resolution <br />states that this property has been appraised <br />and reviewed and is being offered for re- <br />use. The property is 17.79 acres located at <br />the Toll Road and the Bypass. This piece <br />of property was acquired from the Indiana <br />Toll Road. The intent for this property is <br />for Industrial use. The minimum purchase <br />price for the entire site is $118,350. <br />On the bid specifications and the design <br />consideration, all plans must be approved <br />by the Design Review coordinator. The <br />project must be started within one year of <br />award and completed within two years. <br />The land may be sold on a prorated basis. <br />The Commission will place a restriction <br />on the property that no new outdoor <br />advertising signs be placed on the <br />property. (There are currently two outdoor <br />advertising signs on the property.) The <br />minimum purchase price is based on the <br />unimproved lot, if the lot should be <br />improved, then the purchase price will <br />increase. <br />Upon a motion by Ms. Auburn, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission adopted Resolution <br />No. 1558 approving the fair re -use value <br />of property in the Airport Economic <br />Development Area. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\112197.MIN -48- <br />COMMISSION ADOPTED RESOLUTION NO. 1558 <br />APPROVING THE FAIR RE -USE VALUE OF <br />PROPERTY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA <br />