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2. Minutes 3/20/09
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2. Minutes 3/20/09
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10/1/2010 12:05:40 PM
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South Bend Redevelopment Commission <br />Regular Meeting-March 20, ?009 <br />6. NEW BUSINESS (CONT.) <br />C. Airport Economic Development Area <br />(1) continued... <br />Ms. Kolata noted that once the property has <br />been purchased by 3 G Properties, the <br />building will be expanded by approximately <br />9,000 square feet and River Bend Hose will <br />be able to expand its business and <br />consolidate some of its operations into the <br />building. They will also continue to operate <br />out of their main location at 1 1 1 1 S. Main <br />Street. <br />Ms. Kolata noted that legal counsel is still <br />reviewing one item in the agreements, so <br />approval should be given subject to final <br />legal review. <br />Upon a motion by Ms. King, seconded by <br />Mr. Varner and unanimously can-ied, the <br />Commission approved the Environmental <br />Testing and Removal Agreement with 3 G <br />Properties, pending final legal review. (700 <br />S. Lafayette) <br />(2) Environmental Indemnity Agreement with <br />3 G Properties (700 S. Lafayette) <br />Ms. Kolata noted that the purchase <br />agreement is also contingent on the <br />Commission approving an Environmental <br />Indemnity A.~reement with 3 G Properties. <br />Our original transaction with Design <br />Packaging included an Environmental <br />Indemnity Agreement that lasted for ten <br />years. This was amended to add Tecumseh <br />Corrugated Cardboard Company and <br />extended for an additional five years. The <br />Environmental Indemnity Agreement with 3 <br />COMMISSION APPROVED THE ENVIRONMENTAL <br />TESTING AND REMOVAL AGREEMENT WITH 3 G <br />PROPERTIES. PENDING FINAL LEGAL REVIEW <br />(700 S. LAFAYETTE) <br />9 <br />
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