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Community Redevelopment Agency <br />March 11, 2011 <br />Page 4 <br />In response to the Board's question, Ms. Lynch stated that the purchase of the Rubin property was finalized <br />on February 28, 2011. <br />Sixth Item of Business: CRA Plan Update <br />a. City Center Sub-area Investments <br />b. Southern Sub-area Investments <br />c. DevelopmentlRedevelopmentOpportunities <br />i. City Center Site <br />ii. Target Frontage Site <br />iii. Concord Center Site <br />iv. Civic Center <br />v. Lake Concord Park <br />Mr. Martin, Community Development Director, reviewed the CRA Plan including Sections 4.1.3 through <br />5.2.5 (a copy is attached and made a part of the minutes). <br />Mr. Martin stated that the old Saturn Car Dealership is being transformed into the Aviation Institute of <br />Maintenance. He explained that the site was sold for $1.7 million and there are plans to invest $1.7 in the site. He <br />said the school will have approximately 300 students and 30 full time staff positions. <br />Mr. Martin stated that the Chevron gas station on Highway 17-92 has recently closed and if a gas station <br />does not reopen within 90 days of closing, it would lose its ability to reopen as a gas station pursuant to our <br />standards. <br />In response to Mr. John Casselberry's question, Mr. Martin explained that the aircraft engines would be fired <br />up for ten minutes every two months. He said the systems are removed from the plane for the students to work on in <br />a classroom setting. He said the amount of fuel necessary for the airplanes is very minimal. <br />A general discussion ensued regarding the status of the Publix on Highway 17-92 and the construction of <br />the proposed Wal-Mart at Highway 17-92IState Road 436. Ms. Lipscomb stated that Publix's lease will expire in the <br />next 3 or 4 years and they have indicated they will vacate their current site when their lease expires. It was stated <br />that there are rumors that the Publix may relocate to the Albertson's site at the intersection of Highway 17-92/State <br />Road 434. <br />Mr. Martin stated that the City continues with negotiations with the Robbins Group for the City Center site, <br />He said they hope to have a contract to take before the City Commission in April. Mr. Martin estimated it would be at <br />least 2'/2 years before construction would begin on the site, Mr. Martin said one of the issues in the negotiations is <br />