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{ <br /> MOORESVILLE REDEVELOPMENT COMMISSION MINUTES <br /> MONDAY, MAY 21, 2012, 6 PM EXECUTIVE SESSION AND <br /> 6:30 PM REGULAR MEETING <br /> The Mooresville Redevelopment Commission met on Monday, May 21, 2012 for an li <br /> executive session. Commissioners present were: Harold Gutzwiller, Tim Corman, <br /> George Watkins, and Don Slultz. Morgan County Economic Development Director Joy <br /> Sessing was present. <br /> Chairman Gutzwiller called the regular meeting to order at 6:30 P. M. Commissioners <br /> present were George Watkins, Don Stultz, and Tim Corman. Attorney Currens was <br /> present and Morgan County Economic Development Director Joy Sessing was present. <br /> A motion was made by Commissioner Watkins with a second by Commissioner Stultz to <br /> approve the minutes of the April 2012 meeting. Motion carried 4-0. <br /> Claims to be approved: Morgan County EDC for two appraisals totaling$2,700, a <br /> motion to approve was made by Commissioner Corman with a second by Commissioner � <br /> Stultz. Motion carried 4-0. Another claim was for Wabash Scientific partial payment of <br /> $9,439.50 with a motion to approve by Commissioner Colman and a second by <br /> Commissioner Stultz. Motion carried 4-0. <br /> Chairman Gutzwiller presented a copy of a purchase agreement between the Mooresville <br /> Redevelopment Commission and Brown Bark&Assoc. to purchase Southbridge <br /> Shopping Center. It has been fully executed and purchase price is 1.6 million dollars. <br /> '1'his is the average between two appraisals; one appraisal was 1.650 million dollars and <br /> the other appraisal at 1.8 million dollars. There is a contingency for the purchase to go <br /> thru and if it doesn't go thru the Commission will lose $5,000.00. <br /> A motion to ratify the purchase agreement was made by Commissioner Corman with a <br /> second by Commissioner Stultz. Motion carried 4-0. <br /> Commissioner Watkins complimented Chairman Gutzwiller on the number of hours he <br /> put in on this project. <br /> Next, Mike Shaver from Wabash Scientific gave updates on the redevelopment and <br /> economic amendments to the plan. Chairman Gutzwiller talked about changes to the box <br /> on the map. Parcel will become I,egend,Allocation Area will be TIF 1, Red will become <br /> 6 extended TIF 1, green will he TIF 2, purple will be extended '1'1F 2 and yellow will he <br />